China has issued 24 new guidelines to attract more global capital and further optimize the country's business environment for multinational corporations.
China issued a guideline on Wednesday for promoting the development of the private sector, signaling the latest push for supporting and reinvigorating a key sector in order to revive economic recovery amid downward pressures.
China will step up its policy support to increase consumer spending and unleash the country's purchasing potential, a key force that propels the nation's economic recovery and underpins its endeavors toward modernization and prosperity, experts said.
The Ministry of Commerce has called on local commerce authorities to fully recognize the complexity and severity of the current foreign trade situation, while taking effective measures to ensure China's exports this year, said the ministry in an online statement.
China will steadily expand institutional opening-up with regard to rules, regulations, management and standards, and will work with all countries and parties to share opportunities arising from it, President Xi Jinping said on Sunday.
China's efforts to build modern industries and expand institutional opening-up will create new advantages in international cooperation and competition, especially given the challenges of slowing global demand, geoeconomic shocks and soaring global commodity and energy prices.
Xi'an, capital of Northwest China's Shaanxi province, rolled out a series of measures to expand production and sales of new energy vehicles (NEVs) on March 21.
As China's ongoing two sessions — the annual sittings of the nation's top legislature and top political advisory body — reaffirm the economic policy's thrust on steady growth, multinational corporations operating in China said they are optimistic about their long-term business prospects.