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We learned that the first plants of BASF Guangdong Verbund site had started production on September 6. What has MOFCOM done in support of key foreign-invested projects recently? What’s the considerations for the next step?(2022-09-08)

In response to the decisions and deployment of the CPC Central Committee and the State Council to leverage the role of key foreign-invested projects in stabilizing foreign investments, MOFCOM has worked with related departments to establish a task force for key foreign-invested projects, which constantly updates the list of key foreign-invested projects with its members and sub-national governments. The projects are mainly concentrated in priority industries identified in the 14th Five-year Plan, such as high-end manufacturing and high technologies. Through one-on-one services, regular surveys, and project funding monitoring mechanism, the task force aims to track the progress of the projects and help solve difficulties. In fact, it has helped solve 611 problems reported by FIEs and projects. It also plays a coordinating role in accelerating the administrative approval or record filing, and securing funding, land and power supplies to the projects, as long as the demands for production factors are reasonable. It aims to push for the signing of a group of projects under negotiation, launch of a group of projects that are signed, and the delivery and operation of a group of projects that are under construction.

At present, the key foreign-invested projects in general are progressing well. Half of them are under construction or operation, over 30% of the projects under construction have started production, over 60% of the projects have entered full production. the BASF Guangdong Verbund site, the third plants of the BMW Brilliance Automotive production base in Shenyang have both started operation. MOFCOM statistics show that in the first seven months of this year, foreign-invested projects above 100 million dollars in China registered paid-in capital of 66.85 billion dollars, up by 35.0%, accounting for 53.9% of the paid-in FDI in this period.

Going forward, the task force will adjust the list of key-foreign invested projects as needed, give priority to iconic manufacturing projects with large investments and strong impact, improve whole process services and support, facilitate the implementation and operation of more foreign-invested enterprises, so that major foreign-invested projects can plan a greater role in driving foreign investments growth and stabilizing the overall economy. Thank you.