China to further encourage foreign investment in advanced manufacturing, high-tech industries

China will ramp up efforts to encourage foreign investment in high-end equipment, basic components and key parts in the field of advanced manufacturing and high-tech industries as part of its broader push to advance high-level opening-up, the country's top economic regulator said on Monday.

According to a notice released by the National Development and Reform Commission and five other central government departments, the country will encourage foreign investment in research and development, design and modern logistics in the realm of the modern service industry, as well as innovation and application of new energy and low-carbon technologies.

Further measures will be taken to facilitate border entry and exit of senior executives and technicians from foreign companies and their family members, on the premise of effective COVID-19 pandemic prevention and control measures, said the notice.

Foreign companies will also be encouraged to set up R&D centers in China and deeply participate in the country's intelligent manufacturing, as well as the construction of advanced manufacturing industrial clusters, it added.

Foreign direct investment in the Chinese mainland, in terms of actual use, grew 16.4 percent year-on-year to 892.7 billion yuan ($122.1 billion) in the first eight months of this year, according to the Ministry of Commerce.

Specifically, FDI in high-tech manufacturing rose 43.1 percent from the same period a year ago, while that in the high-tech service sector surged 31 percent year-on-year.