Catalogue for Encouraged Foreign Investment (2022)

Country / jurisdiction: People's Republic of China · Year: 2022 · Status: In force · Level: National · Type: Voluntary

Effective from January 1, 2023, Decree No. 52 by the National Development and Reform Commission and the Ministry of Commerce introduces a revised catalogue to encourage foreign investment in specific industries and regions.

Aligned with the 2022 Government Work Report, this expanded catalogue encourages foreign investments in advanced manufacturing and modern services industries, as well as central-western and northeastern regions. The investment areas in the catalogue enjoy three benefits: exemptions from customs duties on self-use equipment imports, priority land supply, and extra tax reductions in western regions and Hainan Province.

The mining industry section of the catalogue highlights five investment areas: exploration of oil and natural gas (including shale gas and coal bed methane) and mine gas utilisation; development and application of new crude oil recovery technologies; physical exploration, drilling, logging, recording, downhole operations, and other oil exploration and development activities; new technologies to enhance the utilisation of mine tailings and apply mine ecological restoration techniques; exploration, mining, and ore dressing of minerals in short supply in China, such as potash and chromite.

Official source: https://www.gov.cn/zhengce/2022-11/29/content_5730383.htm