Beijing has pledged to allow more participation by foreign companies in sectors including telecommunications, healthcare and education in its latest attempt to attract and retain investment from overseas amid worsening geopolitical tensions.
According to a 20-point 2025 action plan from the Ministry of Commerce and the National Development and Reform Commission that was unveiled on Tuesday, China will expand the range of industries in which foreign can invest and facilitate their financing in the country.
To give one example, the plan said China will promote the orderly opening up of the biomedical sector and support qualified foreign companies’ participation in the production of biological products.
It will also formulate measures on opening up the culture and education sectors, the plan said, without further elaboration.
China does not currently allow wholly foreign-owned preschool education institutions, high schools and universities to operate in the country. It has also banned foreign investment in publishing, news production and film making.
The government will guide foreign investment to “serve the high-quality development” of China’s manufacturing industry, while supporting more involvement in central, western and northeastern provinces, according to the plan.
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