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China plans cutting negative list to attract foreign investors

China plans cutting negative list to attract foreign investors
Written by ZJbTFBGJ2T

China plans cutting negative list to attract foreign investors  ecns

China plans cutting negative list to attract foreign investors

China to Reduce Negative List for Foreign Investment and Enhance Openness in Modern Services

China’s top commerce official, Chinese Commerce Minister Wang Wentao, announced on Sunday that China will reduce the number of items on the negative list for foreign investment and increase the level of openness in modern services. This statement was made during a sub-forum at the ongoing 2023 China International Fair for Trade in Services in Beijing.

China’s Path to Modernization and Global Development

Minister Wang Wentao emphasized that China’s path to modernization will create new opportunities for global development. He stated that China’s doors of openness will continue to expand, welcoming businesses from all countries to actively invest in China, including investments in the service sector.

The Negative List for Foreign Investment

The negative list specifies the industries in which foreign investors are not allowed to operate.

UK’s Readiness to Meet Market Demand in China

Dominic Johnson, minister of state of the United Kingdom’s Department for Business and Trade, expressed the UK’s readiness to meet the market demand of China’s service industry and its vast consumer market. He highlighted the importance of collaboration and cooperation between the UK and China, stating that “the world will be a far better place with the UK and China collaborating and cooperating more closely together”.

UK’s Increasing Investment in China

Data from the Ministry of Commerce showed that due to China’s vast market, well-developed industrial system, and favorable policies for opening-up, foreign direct investment from the UK in China increased by 159.9 percent year-on-year in the first seven months of 2023. Johnson mentioned that British companies have invested in various industries in China, including banking and pharmaceuticals, leading to numerous opportunities for both countries.

SDGs, Targets, and Indicators

1. Which SDGs are addressed or connected to the issues highlighted in the article?

  • SDG 8: Decent Work and Economic Growth
  • SDG 9: Industry, Innovation, and Infrastructure
  • SDG 17: Partnerships for the Goals

The article discusses China’s efforts to reduce the negative list for foreign investment and boost openness in modern services. This aligns with SDG 8, which aims to promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all. It also relates to SDG 9, which focuses on building resilient infrastructure, promoting inclusive and sustainable industrialization, and fostering innovation. Additionally, the article mentions collaboration and cooperation between the UK and China, which falls under SDG 17, emphasizing the importance of partnerships for achieving the goals.

2. What specific targets under those SDGs can be identified based on the article’s content?

  • Target 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading, and innovation.
  • Target 9.1: Develop quality, reliable, sustainable, and resilient infrastructure.
  • Target 17.6: Enhance North-South, South-South, and triangular regional and international cooperation on and access to science, technology, and innovation.

The article highlights China’s efforts to attract foreign investment in the service sector, which aligns with Target 8.2 of SDG 8. By reducing the negative list for foreign investment, China aims to diversify its economy, upgrade technology, and promote innovation. The mention of collaboration between the UK and China also relates to Target 17.6 of SDG 17, which emphasizes international cooperation and access to science, technology, and innovation. Additionally, the development of infrastructure in China’s service industry corresponds to Target 9.1 of SDG 9.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

  • Foreign direct investment (FDI) inflows
  • Growth rate of the service sector
  • Number of items on the negative list for foreign investment

The article mentions that foreign direct investment from the UK in China’s service sector has increased by 159.9 percent year-on-year. This indicates progress towards Target 8.2 of SDG 8, as it reflects higher levels of economic productivity through foreign investments. The reduction in the number of items on the negative list for foreign investment can be used as an indicator to measure progress towards Target 8.2 and SDG 8. Additionally, the growth rate of China’s service sector can serve as an indicator for measuring progress towards Target 9.1 of SDG 9.

4. Table: SDGs, Targets, and Indicators

SDGs Targets Indicators
SDG 8: Decent Work and Economic Growth Target 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading, and innovation. – Foreign direct investment (FDI) inflows
– Number of items on the negative list for foreign investment
SDG 9: Industry, Innovation, and Infrastructure Target 9.1: Develop quality, reliable, sustainable, and resilient infrastructure. – Growth rate of the service sector
SDG 17: Partnerships for the Goals Target 17.6: Enhance North-South, South-South, and triangular regional and international cooperation on and access to science, technology, and innovation. – Collaboration and cooperation between countries

Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.

Source: ecns.cn

 

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