Core Viewpoint - The release of the "Encouragement Directory for Foreign Investment Industries (2025 Edition)" aims to attract and utilize foreign investment more effectively, focusing on advanced manufacturing, modern services, high-tech, and environmental protection sectors, particularly in the central and western regions and Northeast China [1][2]. Group 1: Changes in the Encouragement Directory - The 2025 edition of the Encouragement Directory includes a total of 1,679 entries, an increase of 205 entries and 303 modifications compared to the 2022 edition [1]. - The national directory consists of 619 entries, with 100 new entries and 131 modifications, while the regional directory for central and western areas has 1,060 entries, with 105 new entries and 172 modifications [1]. Group 2: Focus Areas for Foreign Investment - The new directory emphasizes encouraging foreign investment in advanced manufacturing, modern services, and specific regions such as the central and western areas, Northeast China, and Hainan Province [2]. - New entries in the manufacturing sector include cutting-edge fields such as nucleic acid drug development, zero-magnetic medical equipment, intelligent detection equipment, underwater robots, and key components for robots [2]. Group 3: Service Sector Development - The directory highlights the development of productive service industries, adding new categories such as new materials technology platforms, modern high-end shipping services, and virtual power plant operations [2]. - It also supports the enhancement of service consumption by including categories like pet services, sports tourism, property services, and internet-based healthcare services [2]. Group 4: Regional Coordination and Development - The directory aims to promote regional coordinated development by expanding the encouragement scope based on local resources and industry characteristics [3]. - New entries for specific provinces include cruise tourism in Liaoning, ice and snow equipment in Heilongjiang, high-end intelligent lifting machinery in Henan, marine environmental governance in Hainan, computing power hardware in Guizhou, and wind power operations in Qinghai [3]. Group 5: Future Implementation - The National Development and Reform Commission will coordinate with relevant departments to ensure the implementation of policy measures and create a market-oriented, law-based, and international business environment for foreign investors [4].

Core Points - The National Development and Reform Commission and the Ministry of Commerce jointly released the "Encouraged Foreign Investment Industry Catalog (2025 Edition)" which will take effect on February 1, 2026, replacing the 2022 version, reflecting China's commitment to high-level opening-up [1][2] Group 1: Focus on Advanced Manufacturing - The new catalog emphasizes advanced manufacturing, guiding foreign investment towards high-end and intelligent manufacturing sectors, including the development and production of nucleic acid drugs, zero-magnetic medical equipment, intelligent detection equipment, and key components for robots [1][2] Group 2: Modern Service Industry Development - The catalog aims to enhance the high-quality development of the productive service industry, adding items such as new materials common technology platform operations, modern high-end shipping services, and virtual power plant operations, while also addressing consumer upgrade demands by including pet hospitals, sports tourism services, and "Internet + healthcare services" [1][2] Group 3: Regional Investment Expansion - The catalog expands the encouraged investment scope based on regional endowments, adding unique items for specific provinces, such as cruise tourism services in Liaoning, ice and snow equipment R&D in Heilongjiang, and marine environment governance in Hainan, promoting balanced regional development [2][3] Group 4: Policy Incentives for Foreign Investment - Industries included in the encouraged catalog will benefit from various policy incentives, such as exemption from import duties on self-used equipment, a reduced corporate income tax rate of 15% for investments in western regions and Hainan, and tax credit benefits for foreign investors reinvesting profits in eligible sectors [3][4] Group 5: Future Initiatives for Foreign Investment - The National Development and Reform Commission plans to enhance coordination and implementation of foreign investment initiatives, focusing on expediting major foreign investment projects, addressing bottlenecks in land use, environmental assessments, and energy consumption, and providing support for foreign enterprises [4]

Core Viewpoint - The new "Encouraging Foreign Investment Industry Catalog (2025 Edition)" aims to optimize foreign investment direction and improve regional layout, reflecting China's commitment to high-level opening-up [1][2]. Group 1: Focus on Advanced Manufacturing - The catalog emphasizes advanced manufacturing, guiding foreign investment towards high-end and intelligent manufacturing sectors, including new areas like nucleic acid drug development and robotics component manufacturing [1]. - The inclusion of cutting-edge fields aims to support the transformation and upgrading of the manufacturing industry [1]. Group 2: Development of Modern Service Industry - The catalog promotes high-quality development of productive services, adding new entries such as modern high-end shipping services and virtual power plant operations [2]. - It also addresses consumer upgrade demands by including sectors like pet healthcare and sports tourism services, balancing industrial upgrades with improvements in people's livelihoods [1][2]. Group 3: Regional Investment Expansion - The catalog expands the encouragement scope based on regional endowments, adding specific entries for provinces like Liaoning and Hainan to promote balanced regional development [2]. - This approach aligns with local development realities and provides foreign investors with diverse investment options [2]. Group 4: Policy Incentives for Foreign Investment - Industries included in the catalog will benefit from substantial policy incentives, such as tax exemptions on imported equipment and reduced corporate income tax rates in specific regions [3]. - Foreign investors can also enjoy tax credits if they reinvest profits in qualifying sectors listed in the catalog [3]. Group 5: Future Initiatives for Foreign Investment - The National Development and Reform Commission plans to enhance coordination and guidance for foreign investment, focusing on expediting major projects and addressing bottlenecks in land use and environmental assessments [4]. - There will be initiatives to listen to foreign enterprises' needs and facilitate investment and operational challenges [4].

中国宏观经济研究院对外经济研究所发达经济体研究室副主任、研究员原倩表示，《鼓励目 录》作为我国重要的外商投资促进政策，在优化外商投资产业结构、完善外商投资区域布 局、推动利用外资高质量发展方面发挥了重要作用。修订扩大《鼓励目录》向世界发出明确 信号：我国开放的大门只会越开越大。这一举措有利于更好应对外部不利因素影响，以中国 自身发展的确定性应对外部环境的不确定性，为全球投资者提供清晰、稳定、透明的投资预 期。 "从供给侧看，《鼓励目录》将新技术、新业态、新模式纳入鼓励范围，有利于吸引全球创新 要素，实现中外企业优势互补。从需求侧看，修订扩大《鼓励目录》有利于引导外资企业更 好满足我国不断升级的医疗健康、养老服务等需求，改善民生福祉、进一步扩大内需。"原倩 认为。 《鼓励外商投资产业目录（2025年版）》发布。优化对外资的方向性引导。 12月24日，国家发展改革委、商务部对外发布《鼓励外商投资产业目录（2025年版）》（以 下简称《鼓励目录》）。该目录自2026年2月1日起施行，2022年版鼓励目录同时废止。 新版《鼓励目录》聚焦优化外资投向、完善区域布局，主要呈现三方面核心变化，进一步彰 显我国扩大高水平对外 ...

Core Viewpoint - The Chinese government has released the "Encouragement Directory for Foreign Investment Industries (2025 Edition)" to promote foreign investment in advanced manufacturing sectors [1] Group 1: Encouragement of Foreign Investment - The directory continues to prioritize manufacturing as a key area for foreign investment [1] - New additions to the directory include the development and production of nucleic acid drugs, research and production of zero-magnetic medical equipment, and manufacturing of intelligent detection equipment and instruments [1] - Other highlighted sectors include the development of high-speed cameras, smart energy management systems, underwater robots for deep-sea operations, key equipment for gas power generation, and essential components for robots [1]