British companies can take advantage of new Chinese policies on investment in advanced manufacturing

China has released a policy document that could benefit UK companies wishing to invest in advanced manufacturing. On 30 June 2021, China's Ministry of Commerce released its Development Plan for Commerce to cover the next five years. This plan covers the following points:

1. Allow the Chinese subsidiaries of foreign companies to enjoy any fiscal or tax preferences available to local domestic companies, and also to ensure that they are treated equally with domestic companies for the purposes of government procurement.

2. Ease conditions for foreign investors to make strategic investments in China's listed companies.

3. Encourage foreign investors to invest in

• high-end manufacturing,
• advanced technologies,
• upgrading old-style manufacturers,
• modern service industries, and
• the central and western regions of China.

4. Support foreign companies that wish to set up global and regional headquarters in China and/or R&D centres, or to participate in new infrastructure projects.

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