In the context of the prevalence of global trade protectionism, China has launched a negative list at its own pace and relaxed market access, demonstrating China's determination and action to open up. Professor Li Yumei of our institute accepted an interview with China Economic Times on the topic of negative list.
China Economic Times: Why did our country launch the 2018 negative list of foreign investment ("Special Management Measures for Foreign Investment Access (Negative List) (2018 Edition)")?
Professor Li Yumei: China's adoption of the foreign investment negative list management model is in line with the development trend of international investment rules. It is an important measure to create a fair and competitive market environment for all types of ownership enterprises. It can simplify administrative approval procedures, improve the transparency of foreign investment management and promote investment facilitation and liberalization. It is also the need to expand opening up and actively utilize foreign capital.
China Economic Times: What changes will the negative list management of foreign investment bring to China?
Professor Li Yumei: The 2018 version of the foreign investment negative list has been greatly simplified. This is China’s institutional reform that adapts to the new situation of economic globalization and changes in international investment rules. It will help create a fairer, more transparent and convenient foreign investment environment, promote the formation of a new pattern of comprehensive opening up, and provide a guarantee for the high-quality development of our country’s economy. The new negative list greatly relaxes market access and optimizes the business environment, which will greatly stimulate the enthusiasm of investors from various countries to invest in China and attract high-quality foreign investment in China. At the same time, it is also conducive to enhancing the ability of local enterprises to participate in global competition and cooperation, effectively improving the supply of high-quality products and high-level services, and promoting the transformation and upgrading of domestic industries. Under the current international economic and trade situation, China's proactive opening of the domestic market and improvement of the foreign investment environment are undoubtedly taking concrete actions to safeguard free trade and multilateralism and reflect China's image as a responsible major country.
China Economic Times: It is undeniable that the 2018 version of the foreign investment negative list promotes opening up in all directions. However, some companies are worried about the hidden barriers. What do you think of it? What should be paid attention to in the process of implementing the negative list?
Professor Li Yumei: The key to the negative list management system lies in its implementation. If the negative list is reduced, the degree of openness increases, and the thinking of the specific foreign investment management departments and staff is still in the past, it will reduce the effect of the new version of the foreign investment negative list to expand the opening up and promote the use of foreign capital.
