On 28 October 2022, the National Development and Reform Commission and the Ministry of Commerce of China published the Catalogue of Encouraged Industries for Foreign Investment (2022 Version), which will come into force and replace the currently effective 2020 version on 1 January 2023.
China started to announce and update the list of industries where foreign investment is encouraged since 1995 in a catalogue consolidating the industries encouraged, restricted and prohibited for foreign investment. Since the reform of foreign investment regulatory regime in 2019, the encouraged industry list has been announced in a standalone catalogue and updated every one or two years. Analogous to its previous versions, the 2022 Catalogue contains two sub-catalogues setting out encouraged industries respectively for the whole nation and for only central, western, north-eastern regions and Hainan Province. The 2022 Catalogue has been regarded as an effort to stabilise foreign investment and further commitment to opening up the economy.
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