Further relax the procurement policy of foreign businessmen in China

Chinese Vice-Minister of Commerce Wei Jianguo said recently that the Chinese government will earnestly fulfill its commitment to the World Trade Organization and further relax the policy of foreign purchases and exports in China to further meet the growing procurement needs of multinational corporations.

On the 23rd, the 5th China International Electromechanical Products Expo opened here. The [Mechanical and Mechanical Manufacturing and Multinational Corporations' Trade and Investment Opportunities in China • The World Top 500 Enterprises High-Level Forum" is an important part of the conference. Wei Jianguo expressed this point in his speech at the forum.

As China's economy continues to grow, more and more multinational companies are rapidly expanding their global sourcing network to China. According to the data, the annual purchases of multinational companies in China have exceeded 100 billion US dollars in the past two years, and they are increasing year by year. The global procurement network and the procurement organization of multinational companies have not only established bases in developed coastal areas of China, but also established procurement agencies in the central and western regions such as Wuhan and Chongqing.

China attracts multinational companies to invest in a unique position: more than 400 of the world's top 500 companies have invested in China, with a total of more than 3,000 projects, of which 50% are invested in technology-intensive industries such as automobiles, electronics, and metallurgy. Above, almost all industrial project multinational companies have entered China. This will help China expand its export scale and structure, and use multinational company procurement activities and global procurement system to enable China's more competitive manufacturing products to enter the international market.

Wei Jianguo said that in order to promote cross-border procurement and develop China's manufacturing industry, China will further relax the policy of foreign purchases and exports in China, allowing foreign investors to set up wholly-owned export procurement centers in some regions, and engage in the procurement of products and related services in China. . This means that foreign investors can conduct export business with independent legal personality and enjoy the same export tax rebate and related policies for Chinese enterprises.