New measures manifest country's firm commitment to opening-up: China Daily editorial

Over the past decade, the country has deepened its opening-up to the world, accelerated the construction of a new open economy, and seen marked growth in the use of foreign capital, which have played a positive role in the healthy development of the economy.

In a move that should consolidate the confidence of the business community in China's continued commitment to opening-up, the National Development and Reform Commission and other related central departments jointly released a document on Tuesday detailing 15 measures the Chinese government will take to attract foreign investments in key manufacturing industries.

That the document was unveiled shortly after the 20th National Congress of the Communist Party of China concluded on Saturday reflects the sincerity of China's commitment to further open its door wider to the world. Something that the leadership of the Party reaffirmed on Sunday when the new members of its top body were introduced to the media, with the unequivocal pledge that China will only open wider and wider.

The document should in the first place serve to dispel concerns that the COVID-19 pandemic will continue to take a heavy toll on personnel exchanges between China and the outside world, particularly those in business, technology and investment.

It urges governments at various levels, under the premise of effective virus control, to facilitate senior executives, technicians of multinational companies and foreign-invested enterprises entering and exiting the country, along with their families. It requires that all localities make good use of the "fast channel" for the exchange of Chinese and foreign personnel, and further clarify standards and procedures in light of local conditions to provide convenience for foreigners to come to China. This is a sign that after being seriously affected by the COVID-19 pandemic for about three years, decision-makers are now starting to take actions aimed at balancing virus control and opening-up. In other words, the question is no longer yes or no, but how.

Local governments should heed the new green light and transform the directives of the central authorities into practical measures befitting local conditions as soon as possible.

Apart from that, the document covers almost all aspects of foreign investment facilitation, ranging from shorter negative lists and national treatment to support for foreign investments, including the provision of land, smoothing of logistics and financing. That should unequivocally demonstrate the central authorities' determination to resolutely carry out the opening-up policies under the new normal defined by the lingering COVID-19 pandemic and high geopolitical tensions.

Taken together, the 15 measures show that in its pursuit of high-quality development, China will support foreign-invested enterprises to better integrate into the domestic cycle, and promote better cohesion between the international and domestic circulation. Despite any claims to the contrary, it is not reversing course now.