China announces to remove all restrictions on foreign investment access in the manufacturing sector

On March 19, China’s State Council Office issued the "Action Plan for Solidly Promoting High-level Opening-up and Attracting and Utilizing Foreign Investment with Greater Efforts", proposing to completely cancel the restrictions on foreign investment in the manufacturing sector, and exempt eligible reinvestment enterprise projects from tariffs when importing equipment for their own use. Under the influence of this policy, China's level of opening up to the outside world will continue to expand, international exchanges and investment activities will be more frequent, and further promote foreign investment in China's manufacturing industry.