The highly anticipated 2024 Government Work Report of the PRC sets a vast range of work tasks in attracting foreign investment, which include:  

1. Continuing to shorten the negative list for foreign investment.
2. Lifting all market access restrictions in manufacturing sectors.
3. Relaxing market access for telecommunications, healthcare, cultural and entertainment, professional consultation, and other service sectors.
4. Fully implementation of the negative list for cross-border trade.
5. Expanding the Catalogue of Encouraged Industries for Foreign Investment.
6. Encouraging foreign invested enterprises to reinvest in China.
7. Implementing measures to ensure the national treatment for foreign invested enterprises, ensuring their legal participation in government procurement, biding and tendering, and equal role in standards formation.
8. Promoting solutions to restrictions on cross-border data flow and other problems
9. Enhancing the guarantee on foreign investment service.
10. Facilitating procedures for foreigners to come to China for work, study and travel.
11. Deeply implementing the strategy of upgrading the pilot free trade zone and grant more autonomy to the pilot free trade zone, Hainan Free Trade Port, and other areas.
12. Promoting reform and innovation in development zones and creating a new highland for opening up to the outside world.

It is expected that China will roll out a series of specific measures in 2024 to boost business confidence and attract foreign investment. We will keep an eye on the progress.

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