Ministry of Commerce will continue to decentralize foreign investment approval right

Promotin, director of the Department of Foreign Investment Management of the Ministry of Commerce, said 13th that China is revising the catalogue of foreign investment industry, will expand the category of encouraging and permitting industries, reduce the restricted industries, and encourage foreign investment to enter the western part of China, and will continue to decentralize the approval of foreign investments.　　After the Ministry of Commerce approved only 300 million dollars of investment projects, before the standard is 100 million U.S. dollars. Promotin at the Shanghai World Expo to attend the European Union Chamber of Commerce Forum to make the above remarks. Promotin pointed out that China's future absorption of foreign investment will be in line with China's macro-economic development direction, will vigorously encourage foreign investment in energy-saving and environmental protection, green Low-carbon industries, and investment areas will be centered on the west.　　He said that the amount of foreign investment in the approval authority will be further decentralized, after the Ministry of Commerce approved only 300 million U.S. dollars of investment projects, before the standard is 100 million U.S. dollars. According to media reports, the National Development and Reform Commission, Ministry of Commerce and other departments convened a joint Foreign Investment Environment Symposium to solicit views from all parties. The catalogue being revised will further optimize the structure of foreign investment in China. The industry of encouraging class mainly includes: New energy, material, biomedicine, high-end manufacturing, information industry and other fields.　　In addition, multinational companies are encouraged to set up research and development centers and extend industrial chains in China. Since last August, while the world has not yet emerged from the financial crisis, China has seen positive growth in foreign direct investment, which has been growing continuously in December as of July this year. In January-July this year, China absorbed foreign direct investment growth of 20.7%, up to $58.354 billion.