Full Text: Report on China's economic, social development plan(21)

8. We will implement a more active opening up strategy and make our economy more open.

1) We will maintain steady development of foreign trade. We will continue to implement policies and measures on export tax rebates, export credit and export credit insurance; stabilize export growth; and optimize the export mix. We will continue to strictly control export of products whose production is energy-intensive or highly polluting. We will actively expand imports, improve import-related polices and measures on interest subsidies, credit and tariffs; and increase import of important resources, advanced technology and equipment, key spare parts and components, and agricultural products in short supply at home. We will vigorously develop service trade and service outsourcing. We will expand international exchanges and cooperation, promote negotiations on free trade zones, and properly handle trade frictions.

2) We will make better use of foreign capital and improve its performance. We will constantly expand external economic and technological cooperation, guide foreign investment toward high-end manufacturing, high-tech industries, modern services, new energy sources, energy conservation and environmental protection, and toward the central, western and northeastern regions. We will further open coastal areas, open the inland wider to the outside world, introduce guidelines on the development and opening up of border areas, promote development of cross-border economic cooperation zones, and support infrastructure connectivity with neighboring countries. We will improve the management system for foreign-invested projects, and make good use of the security review mechanism for mergers and acquisitions involving foreign capital. We will improve the unified management of foreign debts and use foreign loans more efficiently. In 2012, non-financial foreign direct investment is expected to reach US$120 billion, up 3.5%.

3) We will expedite the implementation of the "go global" strategy. We will push ahead with major bilateral investment and cooperation projects. We will improve the management system for Chinese investment overseas, innovate the way overseas economic and trade cooperation zones develop, and establish sound mechanisms for assessing overseas investment risks and responding to emergencies. We will continue to do a good job of providing aid to other countries. In 2012, China's non-financial direct investment overseas is expected to reach $66 billion, up 10%.