China To Promote Foreign Investment In Manufacturing

Beijing said on Tuesday it will promote foreign investment with a focus on manufacturing industries, after President Xi Jinping called on the nation to "win the battle" in core technologies during the Communist Party Congress that ended over the weekend.

China will encourage foreign enterprises to invest in high-tech equipment and components, according to a statement published on the website of the planning agency, National Development and Reform Commission.

China will also strengthen financial support for foreign enterprises, including fund-raising by eligible enterprises through listings on the mainland's stock markets, the statement said.

China's economy grew 3.9 percent in the September quarter from a year earlier, rebounding at a faster-than-expected pace.

Tuesday's statement also promised support for foreign enterprises posting personnel to China.

"China will facilitate the entry and exit to the country of multinational companies' executives, technicians and their families, under the prevention and control of Covid-19." (Reuters)