The adoption of this master plan for China to embark on a new journey of building a modern country in all respects is a landmark and has attracted extensive attention both at home and abroad.
Many foreign companies in China are particularly concerned about how the 14th Five-Year Plan will affect their investment and future development here. L’Oreal, Michelin, Schneider Electric, Safran, and Stellantis Group, among others, expressed their expectations for China’s 14th Five-Year Plan and the resulting development opportunities.
New Prospects for Win-Win Cooperation
On March 1, 10 days before the adoption of the 14th Five-Year Plan, the Ministry of Commerce issued a circular on stabilizing foreign investment for the construction of a new development pattern. According to the circular, China will draw up the 14th Five-Year Plan for the Utilization of Foreign Investment this year, formulate a negative list for cross-border trade in services in pilot free trade zones, further lift restrictions on foreign investment outside the negative list, and ensure the implementation of opening-up measures in the automotive, financial, and other sectors.
Premier Li Keqiang said at a press conference on March 11 that China had proposed to position itself on the new stage of development, implement a new development philosophy and build a new pattern of development with domestic development as the main focus and international and domestic development cycles reinforcing each other. This is not only to expand the domestic market, but also to further open up.
This story is from the June 2021 edition of China Today (English).
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This story is from the June 2021 edition of China Today (English).
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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