China's Ministry of Commerce spokesperson He Yongqian Photo: Yin Yeping/GT

China's Ministry of Commerce (MOFCOM) announced on Thursday that three new wholly foreign-owned hospitals have been approved in China to date, marking the latest push in the country's opening-up. 

The ministry noted it is committed to stabilizing foreign trade and investment this year while exploring further openness in sectors like education and culture.

MOFCOM spokesperson He Yongqian told a press conference that, last year, China promoted pilot programs in select regions to expand access to value-added telecommunications, biotechnology, and health care.

To date, 13 foreign enterprises have been approved to provide value-added telecom services, over 40 foreign-funded biotechnology projects have been launched, and three newly established wholly foreign-owned hospitals have been approved.

Many additional foreign investment projects in these sectors are also progressing, the spokesperson said.

This year, the ministry will continue to accelerate the implementation of pilot projects in relevant fields, steadily and orderly expanding their scope, while actively widen opening-up pilots in areas such as education and culture, He said.

These comments were made in response to a media inquiry about the ministry's plans to implement various measures and activities in 2025 to stabilize foreign investment and advance opening-up, following the conclusion of this year's Two Sessions, which has drawn significant attention from foreign-funded enterprises.

He noted that, since the beginning of the year, the ministry, together with relevant departments, has been actively collecting issues and demands raised by foreign firms through mechanisms such as roundtable meeting system for foreign-funded enterprises, dedicated service teams, and complaint resolution mechanisms.

Building on these efforts and expanding on last year's 24-point action plan, China rolled out the 2025 Action Plan for Stabilizing Foreign Investment in February, introducing 20 practical measures to boost foreign investment. 

Further moves also involve continuously developing the "Invest in China" brand. In February, China hosted related policy briefings in Tokyo and Osaka, Japan, which received positive feedback from Japanese companies. Plans are underway to organize a series of this kind activities in other investment source regions, including Europe, the US, South Korea, Singapore, and the Middle East. 

Additionally, the ministry is committed to hosting the 25th China International Fair for Investment and Trade this year, aiming to establish it as a flagship event for promoting investment in China.

During this year's China International Import Expo, themed promotional activities in pilot free trade zones will be held. These efforts will support various regions in conducting targeted investment promotion activities, tailored to specific countries and local conditions, the spokesperson said.

The ministry's ongoing push will also center on improving services and the business environment. Since the introduction of the roundtable mechanism for foreign enterprise in 2023, the ministry has held over 30 such meetings, resolving more than 500 issues raised by foreign companies.

"China will continue to treat domestic and foreign enterprises equally, encouraging their participation in large-scale equipment upgrades, trade-in of consumer goods, and government procurement bidding, while ensuring a fair and competitive environment for foreign companies," the spokesperson said.

Global Times