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A few days ago, the National Development and Reform Commission (NDRC) and the Ministry of Commerce jointly released the "Catalogue of Advantageous Industries for Foreign Investment in the Central and Western Regions (Revised in 2004)." This updated version will come into effect on September 1st this year. According to official sources, the revised "Middle West Catalogue" covers four main areas, with a notable addition being the auto parts industry, which is now included to help boost local advantageous sectors and promote industrial development in the region.
The goal of this new catalogue is to attract more foreign investment by offering incentives to projects that align with the national strategy of regional economic balance and sustainable growth. As stated by an official from the NDRC, any foreign investment projects or enterprises included in the new catalogue will be eligible for the same preferential policies as those listed under the "Guidance on the Direction of Foreign Investment." These benefits may include tax exemptions, land use support, and simplified administrative procedures, all aimed at encouraging long-term investment in the central and western regions of China.
This move is seen as a significant step in enhancing the competitiveness of these less-developed regions and integrating them more closely into China's broader economic framework. The inclusion of the auto parts industry highlights the government’s focus on developing high-value manufacturing sectors in these areas, which could lead to job creation and technological advancement.
With this update, the Chinese government is signaling its commitment to fostering balanced regional development and making the central and western regions more attractive to international investors. The new catalogue not only provides clarity for foreign investors but also serves as a roadmap for future industrial growth in these areas.