The news "China Removes Restrictions on Foreign Investment in Manufacturing Sector" announced by China at the Opening Ceremony of the Third Belt and Road Forum for International Cooperation carries great importance.

According to Chen Wenling, Chief Economist, Deputy Director of Executive Bureau and Academic Committee of the China Center for International Economic Exchanges, removing restrictions on foreign investment in manufacturing sector means that foreign investment will be barrier-free during the continuous transformation and upgrading of China's manufacturing industry in the future.

Bai Ming, a member of the Academic Degrees Committee of the Ministry of Commerce, said that it would be a gradual process to completely remove the restrictions on foreign investment access in the manufacturing sector. At first, it was liberalized in the Pilot Free Trade Zone, and now the scope of liberalization along with the implementation has expanded to the whole country, leading to the completion of process from pilot to promotion. In addition, Bai Ming pointed out that more liberalization would bring more opportunities for cooperation. The high-quality development of China's manufacturing industry requires more high-quality international factors, and only when it is fully liberalized can it optimize the allocation of global resources.