China releases new foreign investment policy, focusing on encouraging auto parts manufacturing industry

On December 20, 2024, China's National Development and Reform Commission and the Ministry of Commerce jointly issued the "Catalogue of Industries Encouraged for Foreign Investment (Draft for Public Comments)", which aims to further implement the Foreign Investment Law and its implementing regulations, and encourage and guide foreign investors to invest in specific industries, fields and regions. Among them, the automotive parts manufacturing industry, as one of the key areas, has been clearly included in the national catalogue of industries encouraged for foreign investment.