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On December 20, 2024, China’s National Development and Reform Commission (NDRC) and the Ministry of Commerce (MOFCOM) released the Catalogue of Encouraged Industries for Foreign Investment (Exposure Draft) (hereafter the “Draft FI Encouraged Catalogue”), revising the 2022 version. This draft is open for public feedback until January 20, 2025.
You are viewing: China Released Draft Encouraged Catalogue to Boost Foreign Investment
Similar to the previous version, the Draft FI Encouraged Catalogue includes two sub-catalogues – one covers the entire country (“national catalogue”) and one covers the central, western, and northeastern regions (“regional catalogue”).
Together, the FI encouraged catalogue identifies industries where foreign direct investment (FDI) will be welcome and treated with favorable policies in China.
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The newly released 2024 Draft FI Encouraged Catalogue contains a total of 1,700 items (620 in the national catalogue and 1,080 in the regional catalogue), increased by 15 percent from 1,474 items (519 in the national catalogue and 955 in the regional catalogue) in the 2022 version.
The lengthening of the catalogue demonstrates China’s firm standing on economic opening-up and the fact that more investment fields will favor foreign investors.
Key changes in the 2024 Draft FI Encouraged Catalogue
Overall, the revision of the 2024 Draft Foreign Investment (FI) Encouraged Catalogue focuses on:
- High-performance equipment manufacturing
- Energy-saving, environmental protection, and low-carbon upgrades in manufacturing
- Automation and intelligence in equipment and processes
- Research, development, production, and manufacturing of equipment related to new energy utilization
- Development of emerging technologies, such as EVOL and generative AI
- Healthcare and education opening up
In specific sectors, the new Encouraged Catalogue introduces or refines incentives for areas like medical devices, batteries, new energy vehicles, pet care, elderly care, and cultural tourism, which are worth noting.
Further analysis will be provided in the coming week.
What are the favorable policies to facilitate FDI in encouraged industries?
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So far, the following favorable treatment is in place for foreign-invested enterprises (FIEs) engaged in doing business in the listed industries published in the encouraged catalogue:
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China Briefing is one of five regional Asia Briefing publications, supported by Dezan Shira & Associates. For a complimentary subscription to China Briefing’s content products, please click here.
Dezan Shira & Associates assists foreign investors into China and has done so since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Haikou, Zhongshan, Shenzhen, and Hong Kong. We also have offices in Vietnam, Indonesia, Singapore, United States, Germany, Italy, India, and Dubai (UAE) and partner firms assisting foreign investors in The Philippines, Malaysia, Thailand, Bangladesh, and Australia. For assistance in China, please contact the firm at [email protected] or visit our website at www.dezshira.com.
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