China plans cutting negative list to attract foreign investors
China plans cutting negative list to attract foreign investors China Daily
sdgtalks
China to Reduce Negative List for Foreign Investment and Boost Openness in Modern Services
A robotic arm picks up components, automatically installing them and fastening screws at ZTE’s smart factory in Nanjing, Jiangsu province on May 19, 2023. [Photo/Xinhua]
Introduction
In this report, we will discuss China’s plans to reduce the number of items on the negative list for foreign investment and enhance the level of openness in modern services. This announcement was made by Chinese Commerce Minister Wang Wentao during a sub-forum at the 2023 China International Fair for Trade in Services in Beijing. The report will also highlight the importance of the Sustainable Development Goals (SDGs) in China’s path to modernization and global development.
China’s Commitment to Openness
Chinese Commerce 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, particularly in the service sector. This commitment to openness aligns with the SDGs, specifically SDG 8 (Decent Work and Economic Growth) and SDG 9 (Industry, Innovation, and Infrastructure), which aim to promote inclusive and sustainable economic growth.
The Negative List
The negative list refers to the specific industries in which foreign investors are not permitted to operate. By reducing the number of items on this list, China aims to attract more foreign investment and promote international cooperation. This initiative contributes to SDG 17 (Partnerships for the Goals), as it encourages collaboration between countries to achieve sustainable development.
International Collaboration
Dominic Johnson, minister of state of the United Kingdom’s Department for Business and Trade, expressed his country’s readiness to meet the market demand of China’s service industry and its vast consumer market. He emphasized the importance of closer collaboration and cooperation between the UK and China, stating that it would lead to a better world. This collaboration has already yielded positive results, with foreign direct investment from the UK in China increasing by 159.9 percent year-on-year in the first seven months of 2023. This bilateral collaboration aligns with SDG 10 (Reduced Inequalities) and SDG 16 (Peace, Justice, and Strong Institutions), as it promotes economic equality and international partnerships.
Conclusion
The reduction of the negative list for foreign investment and the commitment to openness in modern services demonstrate China’s dedication to sustainable development and global cooperation. By actively encouraging foreign investment and international collaboration, China is contributing to the achievement of the SDGs. This inclusive approach will not only benefit China but also create opportunities for businesses from all countries to participate in China’s modernization journey.
SDGs, Targets, and Indicators
-
SDG 8: Decent Work and Economic Growth
- Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 percent gross domestic product growth per annum in the least developed countries
- Indicator 8.1.1: Annual growth rate of real GDP per capita
-
SDG 9: Industry, Innovation, and Infrastructure
- Target 9.1: Develop quality, reliable, sustainable, and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all
- Indicator 9.1.1: Proportion of the rural population who live within 2 km of an all-season road
-
SDG 17: Partnerships for the Goals
- Target 17.16: Enhance the global partnership for sustainable development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources to support the achievement of the sustainable development goals in all countries
- Indicator 17.16.1: Number of countries reporting progress in multi-stakeholder development effectiveness monitoring frameworks that support the achievement of the sustainable development goals
Analysis
The article highlights China’s commitment to reducing the number of items on the negative list for foreign investment and increasing the openness level in modern services. This aligns with SDG 8, which focuses on decent work and economic growth. The specific target under this SDG that can be identified is Target 8.1, which aims to sustain per capita economic growth. The indicator mentioned in the article that can be used to measure progress towards this target is Indicator 8.1.1, which is the annual growth rate of real GDP per capita.
The article also mentions China’s well-developed industrial system and favorable policies to expand opening-up, which relates to SDG 9 on industry, innovation, and infrastructure. The specific target under this SDG that can be identified is Target 9.1, which aims to develop quality, reliable, sustainable, and resilient infrastructure. The indicator mentioned in the article that can be used to measure progress towards this target is Indicator 9.1.1, which is the proportion of the rural population who live within 2 km of an all-season road.
Furthermore, the article mentions the collaboration and cooperation between the United Kingdom and China, indicating a partnership for sustainable development. This aligns with SDG 17 on partnerships for the goals. The specific target under this SDG that can be identified is Target 17.16, which aims to enhance the global partnership for sustainable development. The indicator mentioned in the article that can be used to measure progress towards this target is Indicator 17.16.1, which is the number of countries reporting progress in multi-stakeholder development effectiveness monitoring frameworks.
SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 8: Decent Work and Economic Growth | Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 percent gross domestic product growth per annum in the least developed countries | Indicator 8.1.1: Annual growth rate of real GDP per capita |
| SDG 9: Industry, Innovation, and Infrastructure | Target 9.1: Develop quality, reliable, sustainable, and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all | Indicator 9.1.1: Proportion of the rural population who live within 2 km of an all-season road |
| SDG 17: Partnerships for the Goals | Target 17.16: Enhance the global partnership for sustainable development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources to support the achievement of the sustainable development goals in all countries | Indicator 17.16.1: Number of countries reporting progress in multi-stakeholder development effectiveness monitoring frameworks that support the achievement of the sustainable development goals |
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: chinadaily.com.cn
Join us, as fellow seekers of change, on a transformative journey at https://sdgtalks.ai/welcome, where you can become a member and actively contribute to shaping a brighter future.
