China will do more to attract foreign investment in 2019 by further relaxing barriers over market access, shortening the negative list for foreign investment, and allowing wholly foreign funded enterprises to operate in more sectors, according to the government work report released on Tuesday.
China attracted 138.3 billion U.S. dollars in foreign investment in 2018. The country will promote stable and high-quality growth in foreign trade in 2019, and will take new measures including improving support policies for new business forms such as cross-border e-commerce.
The report noted that China will continue to promote the joint pursuit of the Belt and Road Initiative (BRI) in 2019 and will strengthen international cooperation on production capacity and expand third-party market cooperation.
China will deepen reforms through high-standard opening-up. The country will promote trade and investment liberalisation and facilitation by accelerating the establishment of a network of high-standard free trade areas, the government report said.
China will grant greater autonomy to Pilot Free Trade Zones to carry out reform and innovation, expand the China (Shanghai) Pilot Free Trade Zone, step up the building of China (Hainan) Pilot Free Trade Zone, and explore the opening of a free trade port with Chinese characteristics.
The Report was delivered by Premier Li Keqiang at the opening meeting of the Second Annual Session of the 13th National People’s Congress (NPC) in Beijing.