China will improve business environment for foreign firms: official

China will continue to improve the business environment for foreign companies, said a Chinese official on Saturday, amid media reports that foreign businesses are leaving the country.

At a press conference on the sidelines of the 19th National Congress of the Communist Party of China (CPC), Ning Jizhe, commissioner of the National Bureau of Statistics and deputy head of the National Development and Reform Commission, listed a series of data to support his statement, saying that China actually utilized foreign capital of $92.1 billion in the January-September period.

"In the recent years, China has been one of the top destinations for foreign capital," said Ning, adding that the Chinese government will never stop making efforts to roll out investment and market policies that are favorable to foreign companies doing business in the country.

In 2015, the CPC Central Committee and the State Council made an important decision to build a new, open economic mechanism.

In July, Chinese President Xi Jinping presided over a meeting of the central leading group on finance and economic affairs, calling for the improvement of investment and market environment.

"Currently, more than 96 percent of foreign investment projects are registered and managed locally. Some local governments are also exploring ways to deepen the reforms needed to enhance convenience for investment. I believe China will build a fairer, reasonable and effective investment and business environment through these efforts," said Ning.

Ning revealed that the government will also provide wider market access for foreign investors, saying that the management system of the pre-establishment national treatment plus a negative list will be adopted. Ning also said that foreign companies which register in China will enjoy the same treatment as their Chinese counterparts.

When talking about China's "Go Out" policy, Ning said that the government will support Chinese companies with right conditions to invest overseas.

In August, the State Council published a document to guide and standardize outbound investment out of concerns that some overseas investments by Chinese companies are being used for money laundering and asset transfer.
 


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