How to better improve the policy support system of China's foreign investment?

1. Establish an overall bill on foreign direct investment as soon as possible, and replace policy documents with legal documents to lay a legal foundation for China's foreign direct investment strategy. Although the new foreign direct investment policy system in China has undergone great changes, there is still a lack of a programmatic and authoritative bill to coordinate the overall foreign direct investment policy system in China. The "Measures" of the National Development and Reform Commission and the "Regulations" of the Ministry of Commerce are both forms of departmental policies in the State Council, which belong to administrative policies and lack relevant legal basis. Other overseas investment-related norms also have the same problem. To ensure the healthy development of China's "going out" strategy, it is not enough to rely solely on administrative regulations. It is necessary to establish a bill that can guide foreign direct investment as a whole. Only in this way can China's foreign direct investment policy have a solid legal basis and ensure the unity, coordination and authority of relevant laws and regulations.

2. Further clarify the division of responsibilities between the National Development and Reform Commission and the Ministry of Commerce, and build the highest coordinating body for foreign direct investment in China. From the State Council's analysis of the "three decisions" (responsibilities, internal institutions and staffing) of the National Development and Reform Commission and the Ministry of Commerce, it can be seen that the main responsibility of the Ministry of Commerce in foreign investment pays more attention to the daily management level, while the main responsibility of the National Development and Reform Commission in foreign investment focuses on the allocation of macro resources. However, in practice, there are still problems of unclear boundaries and parallel management between the National Development and Reform Commission and the Ministry of Commerce. For the healthy development of China's overseas investment system, it is necessary to further clarify the responsibilities of the National Development and Reform Commission and the Ministry of Commerce and establish a clearer management system. The state can consider setting up the "China Foreign Direct Investment Strategic Management Committee", and establish a highly authoritative comprehensive coordination management organization to unify and coordinate the macro-decision-making and operation mode of foreign direct investment.

3. Actively develop overseas investment services through the government and service business organizations. Overseas investment in the service industry must be conducted simultaneously by government-led and actively developing service commercial organizations. In August 2004, the Ministry of Commerce and the Ministry of Foreign Affairs jointly issued the first batch of country-oriented catalogues of foreign investment, which is conducive to better guiding enterprises to carry out foreign investment and preventing blind investment and foreign self-competition. From June 5438 to February 2004, the Ministry of Commerce also revised and formulated the foreign direct investment system. With the implementation and improvement of the above-mentioned system, it will certainly have a positive guiding significance for China enterprises to invest overseas in the future. The government should continue to maintain this trend and further improve and improve the measures for overseas investment. In addition to better serving the public and strengthening the spirit of serving market players, the government should also actively encourage overseas investment to serve the development of commercial institutions. Overseas investment services include environmental investigation and analysis, overseas legal services, financial services and tax services.

4. Continue to improve the overseas investment supervision system. It can be predicted that with the implementation of China's "going global" strategy, more and more China multinational companies will appear in the future. These companies will have branches all over the world. China's laws and policies on foreign direct investment should not only encourage enterprises to go abroad, but also actively pay attention to the development of China enterprises after going abroad. From June 5, 2002 to 10, the former Ministry of Foreign Trade and Economic Cooperation successively promulgated the Interim Measures for Joint Annual Inspection of Overseas Investment and the Measures for Comprehensive Performance Evaluation of Overseas Investment (for Trial Implementation). This is the supervision system for overseas investment currently being implemented in China, which is in the promotion stage and its effect remains to be seen. In the future, the supervision of China's foreign direct investment should aim at different investors and take corresponding supervision measures. For example, the supervision of central enterprises should be coordinated by SASAC and an internal risk control mechanism should be established; For private enterprises, we should focus on preventing investment migration, capital flight and illegal overseas operations. In terms of supervision of overseas enterprises, relevant policies need to be further improved.

5. Actively build an overseas investment guarantee system. For enterprises, a major risk of overseas investment comes from political risk. In the past, China's overseas investment was small in scale and quantity, and there were few problems in this respect. However, with the increase of the scale and quantity of overseas investment of China enterprises, they will inevitably face political risks of overseas investment. The establishment of China's overseas investment guarantee system will help to eliminate the concerns of enterprises operating abroad and promote the implementation of China's "going out" strategy. Overseas investment guarantee refers to the guarantee or insurance provided by the government of the capital exporting country for the political risks that foreign investors may encounter abroad. After an investor obtains insurance from a domestic investment insurance institution, if the investor suffers losses due to political risks in the host country, the domestic insurance institution shall be responsible for compensation. First of all, China should gradually establish an overseas investment guarantee system suitable for China's national conditions, and learn from the successful experience of western developed countries to strengthen the support and protection of enterprises' overseas investment behavior.