Vice Minister of Commerce: Continue to promote trade freedom with a negative list as the core.

Last week, the Ministry of Commerce held a press conference for the Qingdao Summit of multinational corporation leaders. Vice Minister of Commerce Qian Keming and Vice Governor of Shandong Province Ren Airong attended the press conference to introduce the background, positioning and preparation of the Qingdao Summit of multinational corporation leaders. And answer questions from reporters.

The following is a record of the meeting:

International Business Daily reporter: May I ask Minister Qian, what practical results does China have in optimizing the business environment? What measures will be taken in the future?

Qian Keming:

The Chinese government has been working to improve the investment environment and increase the attractiveness of foreign investment. In the past year, the Chinese government has deployed a series of targeted policy measures to improve the business environment and achieved some results.

The first is to substantially reduce the negative list and promote the opening up of modern service industries, manufacturing industries and agriculture, including the financial industry. The openness of the manufacturing industry has been very high, and it has been further expanded since last year.

The second is to actively reduce tariffs. The total tariff level is now reduced to 7.5%, which is much lower than most developing countries. It is close to the open level of developed countries and developed markets.

The third is to hold the first China International Import Expo, so that more countries with distinctive and advantageous products will enter the market. It is the first one to specialize in international exhibitions based on imports. Most of the fairs are mainly for export promotion. This time we are an exhibition promoting import.

Fourth, this year, the Foreign Investment Law was introduced to create a more stable, transparent, predictable and fair market environment for foreign investors.

The fifth is to proceed with the promotion of a new batch of free trade pilot zones and accelerate the exploration of free trade ports, which is the construction of Hainan Free Trade Port and promote the innovation and upgrading of state-level economic and technological development zones. It also provides more and better open platforms, including the SCO and multinational company leaders summit.

From the statistical indicators, China's actual use of foreign capital in 2018 is 138.3 billion US dollars, ranking first in developing countries. The World Bank's Business and Environment Report for 2019 also showed that the ranking of China's business environment has increased from 78th in the previous year to 46th, a substantial increase. This reflects the substantial progress made in improving the business environment in China. In the next step, China will firmly expand its opening up, continue to promote the liberalization and facilitation of investment trade, and create an internationally competitive investment environment. We want to increase our efforts in the following four areas:

First, we will continue to take the negative list as the core, promote investment liberalization, and accelerate the implementation of the 2019 version of the national and free trade pilot zone foreign investment access negative list and other open measures. One is a list of foreign investment in the Pilot Free Trade Zone, and the other is a national negative list of foreign investment access.

The second is to promote deregulation as the core and promote investment facilitation. We will comprehensively deepen the reform of “distribution management” and create a market-oriented, rule-of-law, and international business environment.

The third is to build the rule of law as the core, promote investment protection, and increase protection of foreign investment. Implement the Foreign Investment Law, establish and improve the working mechanism for foreign investment complaints, and coordinate and solve problems reflected by enterprises in a timely manner.

The fourth is to optimize services as the core, strengthen investment promotion, continuously optimize the foreign investment service system, provide more and better public services for foreign investors and foreign-invested enterprises, and create more investment opportunities.

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