en.Wedoany.com Reported - Recently, China's Ministry of Commerce, together with the National Development and Reform Commission and the Ministry of Finance, jointly issued the "Action Plan for Stabilizing and Optimizing the Use of Foreign Capital." At a press conference held by the State Council Information Office on the 22nd, Ling Ji, Vice Minister of Commerce and Deputy Representative for International Trade Negotiations, introduced that the plan includes several measures across five aspects, explicitly proposing support for foreign investment in the high-quality development of industries such as pharmaceuticals in terms of expanding market access.
In recent years, China has implemented a series of initiatives to encourage multinational pharmaceutical companies to expand investment and cooperation in the country, including pilot programs for opening up the biotechnology sector and segmented production of biological products, supporting high-level innovative drugs with significant clinical value to set prices commensurate with high investment and high risk during the initial market launch phase, and adopting priority review and approval procedures to facilitate the rapid market entry of innovative drugs from foreign-invested enterprises in China.
Wang Ya, head of the Foreign Investment Management Department of the Ministry of Commerce, stated that based on existing policies, the "Action Plan" further proposes multiple measures to address the concerns of foreign-invested pharmaceutical enterprises. These include studying and introducing detailed rules to carry out cross-border segmented production of chemical drugs; supporting insurance companies to include more innovative drugs and medical devices in commercial insurance coverage; and continuously encouraging high-quality innovative drugs and medical devices to enter the Chinese market.
Ling Ji noted that since the "14th Five-Year Plan" period, foreign-invested enterprises have contributed approximately 2.5 trillion yuan in tax revenue annually, accounting for about one-seventh of the national tax revenue. In terms of employment, foreign-invested enterprises have absorbed an average of over 30 million employees per year over the past five years. Previously, the Ministry of Commerce, in collaboration with relevant departments, selected certain regions to pilot the expansion of opening up in three areas: cloud computing, wholly foreign-owned hospitals, and biotechnology. A number of foreign-invested enterprises have already established operations or commenced business activities in these areas.
Wang Ya stated that the pilot opening-up programs will be further expanded based on a comprehensive evaluation. According to the "Action Plan," relevant departments will also steadily expand pilot opening-up programs for vocational skills training institutions, vocational colleges, and high-level universities specializing in science, engineering, agriculture, and medicine. Additionally, more foreign institutions will be supported in utilizing risk management tools, including government bond futures.
The new version of the "Catalogue of Industries Encouraged for Foreign Investment" continues the tax exemption policy for imported research supplies used by foreign-invested R&D centers, increasing support for innovation activities. Wang Ya said that going forward, efforts will continue to strengthen policy supply, encourage foreign investment to participate in the digital and intelligent transformation and integration of the service industry, and vigorously attract foreign-invested enterprises to establish functional institutions such as regional headquarters and R&D centers in China, thereby supporting the expansion and quality improvement of China's service industry.
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