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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 2004)." The updated list will come into effect on September 1 this year. According to officials, the new "Middle West Catalogue" focuses on four key areas, with auto parts now officially included as a priority sector to boost local industrial development and attract foreign investment.
The inclusion of auto parts is seen as a strategic move to enhance the competitiveness of regional manufacturing and support the growth of domestic supply chains. The NDRC spokesperson emphasized that foreign investment projects falling under this revised catalogue will be eligible for the same favorable policies and incentives as those listed in the "Guidance on the Direction of Foreign Investment." These benefits may include tax reductions, land use advantages, and simplified administrative procedures.
This update reflects the Chinese government's continued efforts to promote balanced regional development and encourage foreign enterprises to invest in less developed areas. By focusing on key industries like auto components, the central and western regions aim to build a stronger industrial base and create more job opportunities. Industry analysts believe this move could lead to increased collaboration between international companies and local manufacturers, further boosting economic growth in these regions. Source: China Automotive News