🌟 Big news from the Chinese mainland! Foreign-funded companies now have the same shot at government procurement bids as domestic firms. Yep, you heard that right! 🇨🇳✨
The Ministry of Finance (MOF) recently announced a 20% price preference for goods produced domestically, and guess what? Products made by foreign-funded enterprises within China's borders are in on the deal. Talk about leveling the playing field! 🏟️⚖️
This move is all about equality and openness. Whether a company's roots are local or international, as long as their products meet the criteria and are made within China's customs territory, they're eligible. It's like China's saying, \"Come one, come all!\" 🎉🌏
Senior year resolutions? Nah, we're talking about resolutions from the big leagues! According to a resolution adopted at the third plenum of the 20th Central Committee of the Communist Party of China back in July, China is committed to ensuring national treatment for foreign-funded enterprises. That includes access to resources, licensing, standards, and yes, government procurement. 📝✨
The MOF's notice also dives into the nitty-gritty. Products need to be manufactured within China, from raw materials to the final product. Plus, there are specific requirements for domestic components, and key parts must be made locally. It's like a recipe where all the ingredients need to be homegrown! 🥘🏭
But don't worry, they're rolling this out gradually, focusing mainly on industrial goods. So, if you're into agriculture, forestry, or fishing, this doesn't rock your boat. 🌳🚜🐟
The best part? The policy was crafted after looking at international practices and China's own vibes. It's all about fostering a unified, open, and competitive market that's law-based and international-friendly. 🌐🤝
Got an opinion? The MOF is all ears until January 4, 2025. 🗓️🗣️ So if you're a young entrepreneur eyeing opportunities in the Chinese mainland, now's the time to gear up! 🚀
Stay tuned for more updates on how this could shake up the market and bring new opportunities for businesses worldwide. 🌍💼
Reference(s):
China to give foreign companies equal treatment in govt procurement
cgtn.com
