China is stepping up efforts to attract foreign investors with new policies that encourage multinationals to reinvest profits locally through tax breaks, faster approvals, and better business services.

中国正在通过新政策加大力度吸引外国投资者，鼓励跨国公司将利润通过税收减免、更快的审批和更好的商业服务重新投入本地市场。

During the “14th Five-Year Plan,” China secured US$708.7 billion in foreign investment and added 229,000 new foreign enterprises. To build on this, the NDRC, Ministry of Finance, and Ministry of Commerce introduced the “Measures to Encourage Foreign-Invested Enterprises to Reinvest in China,” reinforcing its commitment to long-term investment growth.

在“十四五”期间，中国吸引了7087亿美元的外资，并新增了22.9万家外资企业。为了在此基础上继续发展，国家发展改革委、财政部和商务部推出了《鼓励外资企业再投资中国的措施》，进一步表明了其对长期投资增长的承诺。

What Does “Reinvestment” Mean in China?

在中国，“再投资”意味着什么？

In practical terms, reinvestment means foreign companies taking the profits they’ve earned in China and putting them back into the local market to grow further.

实际上，“再投资”意味着外国公司将其在中国获得的利润重新投入本地市场，以实现进一步增长。

This can involve:

这可能包括：

Launching new ventures to enter fast-growing industries.

启动新项目，进入快速增长的行业。

Expanding capital in existing operations to increase production and market reach.

扩大现有业务的资本，以增加生产和市场覆盖范围。

Acquiring shares or assets in Chinese companies to deepen integration and access local resources.

收购中国公司的股份或资产，以深化整合并获取本地资源。

The goal is to create a “profit-retention and reinvestment loop”—a cycle where earnings stay in China, fueling expansion and unlocking policy benefits such as tax incentives and streamlined approvals.

目标是创建一个“利润留存与再投资循环”——一个收益留在中国，推动扩张并解锁政策优惠（如税收激励和简化审批）的循环。

Key Incentives for Foreign Investors

外国投资者的关键激励措施

The new policy includes 12 concrete measures designed to make reinvestment easier and more attractive:

新政策包括12项具体措施，旨在使再投资更简单、更具吸引力：

Faster project approvals and simplified paperwork

更快的项目审批和简化的文书工作。

Flexible land-use options such as lease-before-purchase

灵活的土地使用选项，如先租后买。

Tax credits of up to 10% for reinvested profits

对再投资利润提供高达10%的税收抵免。

Easier foreign exchange and financing support

更便捷的外汇和融资支持。

Priority entry into high-tech and strategic industries

优先进入高科技和战略性行业。

“These measures are a timely boost,” said Yuan Shenglong of the Chinese Academy of Macroeconomic Research. “They reduce costs, improve efficiency, and give investors greater confidence at a time of global uncertainty.”

“这些措施是一场及时雨，”中国宏观经济研究院的袁盛龙说，“它们降低了成本，提高了效率，在全球不确定性时期增强了投资者的信心。”

Global Companies Are Taking Action

全球公司正在采取行动

Major multinationals are already responding to these incentives:

主要跨国公司已经开始对这些激励措施做出回应：

Lexus completed a new energy project in Shanghai in less than five months.

雷克萨斯在上海完成了一个新能源项目，耗时不到五个月。

Vandewiele (Belgium) opened its largest manufacturing base in Jiangsu.

比利时的范德威尔在江苏开设了其最大的制造基地。

Weidmann Electrical Insulation launched a US$91 million plant in Wuhan, focusing on advanced transformer materials.

韦德曼电气绝缘公司在武汉启动了一个9100万美元的工厂，专注于先进变压器材料。

Executives are bullish on China’s market prospects:

高管们对中国的市场前景充满信心：

“China is our key market,” said Wilmar’s Changming Tu, noting how streamlined approvals sped up their expansion plans.

威马的屠昌明表示：“中国是我们的关键市场”，并指出简化的审批加快了他们的扩张计划。

Lily Luo, CEO of Otis China, added: “A 10% tax credit on reinvested profits is a practical incentive that supports our growth strategy.”

奥的斯中国首席执行官罗莉说：“对再投资利润提供10%的税收抵免是一项切实的激励措施，支持了我们的增长战略。

Fabrice Megarbane, CEO of L’Oréal North Asia, commented: “These policies are helping us accelerate R&D and expand our manufacturing footprint.”

欧莱雅北亚首席执行官法布里斯·梅加尔班说：“这些政策帮助我们加速研发并扩大我们的制造版图。”

High-Tech and R&D Lead the Way

高科技和研发引领潮流

China’s focus on innovation is drawing reinvestment into fast-growing sectors:

中国对创新的关注正在吸引外资流入快速增长的领域：

High-tech industries accounted for 34.6% of foreign investment in 2024, up six points since 2020.

2024年，高科技行业占外资的34.6%，自2020年以来上升了六个百分点。

R&D centers and regional headquarters are being established by more multinationals to support local product development.

越来越多的跨国公司正在建立研发中心和地区总部，以支持本地产品开发。

Innovation clusters in cities like Shanghai, Shenzhen, and Wuhan are fueling growth in biotech, manufacturing, and digital services.

上海、深圳和武汉等城市的创新集群正在推动生物技术、制造业和数字服务领域的增长。

Examples abound: CJ Group is ramping up R&D in healthy foods for Chinese consumers; KONE is expanding elevator modernization projects tied to urban renewal; and Kärcher has opened a flagship store in Shanghai Hongqiao Station, backed by fast-track approvals.

例子比比皆是：CJ集团正在加大对中国消费者健康食品的研发；通力正在扩大与城市更新相关的电梯现代化项目；凯驰在上海虹桥站开设了一家旗舰店，得到了快速审批的支持。

Tax Breaks, Financing, and Policy Support

税收减免、融资和政策支持

China’s reinvestment framework offers a range of tangible financial benefits designed to make local expansion more attractive and cost-effective for foreign companies.

中国的再投资框架提供了一系列切实的财务优惠，旨在使外资企业在本地扩张更具吸引力和成本效益。

Tax credits for reinvested profits help reduce overall operating expenses, freeing up capital for further growth and innovation.

对再投资利润的税收抵免有助于降低整体运营成本，释放资金用于进一步增长和创新。Flexible land-use and industrial upgrade policies provide access to prime locations and infrastructure, helping companies scale production efficiently.

灵活的土地使用和产业升级政策提供了进入优质地点和基础设施的机会，帮助公司高效扩大生产规模。

Streamlined foreign exchange and financing services simplify cross-border transactions and improve cash flow, ensuring reinvestment processes are faster and less cumbersome.

简化的外汇和融资服务简化了跨境交易并改善了现金流，确保再投资过程更快、更不繁琐。

Companies are already seizing these advantages. Otis plans to leverage tax incentives and financing support to accelerate elevator modernization projects across China. L’Oréal’s investment in Veminsyn shows how reinvestment drives green manufacturing and sustainable cosmetics, strengthening China’s high-value appeal.

公司已经在利用这些优势。奥的斯计划利用税收激励和融资支持，加快在中国的电梯现代化项目。欧莱雅对Veminsyn的投资表明，再投资如何推动绿色制造和可持续化妆品的发展，增强了中国对高价值投资的吸引力。

Why Now Is the Time to Reinvest

为什么现在是再投资的好时机

With tax incentives, faster approvals, and dedicated support for key industries, China is solidifying its position as a premier long-term growth hub for global companies. The country’s focus on innovation, infrastructure, and industrial upgrading creates an environment where foreign investors can scale quickly and operate efficiently.

凭借税收激励、更快的审批和对关键行业的专门支持，中国正在巩固其作为全球公司长期增长中心的地位。该国对创新、基础设施和产业升级的重视，创造了一个能让外国投资者快速扩张和高效运营的环境。

Reinvesting now not only helps businesses reduce operational costs and accelerate expansion, but also provides access to booming sectors such as high-tech, green energy, advanced manufacturing, and digital services. Companies that move early will secure a stronger foothold, build local partnerships, and benefit from China’s rapidly evolving consumer and industrial markets.

现在再投资不仅有助于企业降低运营成本和加快扩张，还能进入如高科技、绿色能源、先进制造业和数字服务等蓬勃发展的领域。早期行动的公司将获得更稳固的立足点，建立本地合作伙伴关系，并从中国快速发展的消费和工业市场中受益。

In an economy driven by innovation and growth, the message is clear: this is the moment for multinationals to reinvest and grow alongside China’s future.

在一个由创新和增长驱动的经济体中，信息是明确的：现在是跨国公司与中国未来共同再投资和增长的时刻。