Resources conservation and environmental protection are
highlighted in the new catalogue. New items have been added into
the revised catalogue to encourage foreign capital to develop
recycling industries, clean production systems, renewable energy
sources and environment protection efforts, as well as investments
in comprehensive resource utilization. Investments in scarce or
nonrenewable minerals will not be encouraged. Placing foreign
capital in some important nonrenewable minerals will not be allowed
and foreign capital projects requiring high-energy consumption and
causing severe pollution will be limited or prohibited.
The new catalogue adheres to the principles of opening China
wider to the outside world. It promotes industrial structure
upgrades. In terms of the manufacturing industry, new entries have
been added to further promote foreign investment in high-tech
industries, equipment manufacturing and new materials
manufacturing. In addition, the new catalogue also covers more
items regarding modern logistics and materials.
Aiming at a large trade surplus and the rapid growth of foreign
exchange reserves in China, the updated catalogue includes new
export policies that go beyond merely promoting exports.
The revised version in 2007 is also favorable toward promoting
coordinated development of all regions in China. All the
competitive industries and feature industries suitable for the
central and western areas, as well as the older northeastern
industrial bases will be considered in the near future.
Other entries have also been revised in the 2007 catalogue in
order to remain cautious about opening up strategic and sensitive
industries involving China's economic security.
The new catalogue is an important policy for guiding foreign
investment. It will play an active role in macro-control, balancing
domestic development and opening-up. It helps upgrade industrial
structures as well as improves the quality of foreign capital
utilization.
(China.org.cn by Yang Xi, November 7, 2007)
