Market access to be expanded further for foreign companies

Zhong Shan, minister of commerce takes questions at a press conference on the sidelines of the first session of the 13th National People's Congress in Beijing, March 11, 2018. [Photo by Xu Jingxing/chinadaily.com.cn]

The country will further expand the market access for foreign investment and treat foreign companies the same as domestic ones to create an even more open business environment, said Minister of Commerce Zhong Shan.

"We will further ease the market access for foreign companies and enhance the protection of intellectual property," said Zhong in a press conference during the first session of the 13th National People’s Congress when responding to a question that there were complaints from foreign companies about the investment environment in China.

"Last year the foreign direct investment reached $136.3 billion, breaking a historical high, "Zhong said. "Foreign companies still see China as a priority investment destination."

Zhong said the ministry will further facilitate foreign investment, including granting the pre-establishment national treatment to foreign companies and implementing the negative list management system.

"We will also push forward the legislation progress on the management of foreign investment, "said Zhong.

"The country will continue to open its door to the world by opening its financial sector, fully opening the general manufacturing sector and welcoming investment in fields such as healthcare, education, elderly-care, telecommunication and new energy vehicles."