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Premier of the State Council of China Li Keqiang has been the main proponent of Made in China 2025 [PPIO]
Spokesperson of the National Development and Reform Commission (NDRC) Yan Pengcheng told reporters on Wednesday that the government wants to open up and facilitate investment opportunities in finance, infrastructure, transportation and the automobile industries, to name a few.
On the other hand, the NDRC is also drafting a “negative list” of industries which will not be open for foreign investment.
Yan also said that foreign and local investors will be on par when they bid for investments as part of the Made in China 2025 manufacturing sector campaign.
This campaign was was introduced by Premier Li Keqiang in 2015 as part of a strategy to transform the Chinese economy into one that is self-sufficient and competitive with global industrial nations such as the US and Germany, for example.
The NDRC announcement comes a week after the Ministry of Commerce said that FDI in China has been steadily growing in Q1 of 2018.
Total FDI during this period grew by 0.5 per cent to 227.54 billion yuan, or $36 billion, with a focus on technology industries.
Year on year, the increase has been 0.4 per cent.
The BRICS Post with inputs from Agencies
