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Preamble
The 11th Five-Year Plan on Foreign Capital Utilization, which is an important part of the 11th Five-Year Plan of China's national economic and social development, based on making a summary of the overall situation of the 10th Five-Year Plan on Foreign Capital Utilization and analyzing the domestic and foreign environments that the 11th Five-Year Plan faces, puts forward the guiding ideology, strategic objective, key tasks and corresponding policy measures for foreign capital utilization in China for the 11th Five-Year Plan, and is an important guideline of the foreign capital utilization work of China during the 11th Five-Year Plan.
During the 11th Five-Year Plan, we shall, for the sake of the work of the foreign capital utilization, comprehensively implement the scientific view of development, further propel the fundamental transformation of the foreign capital utilization from "being quantity-oriented" to "being quality-oriented," practically transfer the emphasis of foreign capital utilization from making up the shortage of funds and foreign exchanges to introducing advanced technologies, management experiences and high-quality talents, focus more on ecological construction, environmental protection as well as conservation and comprehensive utilization of resources and energies, and effectively combine the foreign capital utilization with the upgrading of domestic industrial structure and technological level.
In accordance with the plan consented to by the State Council on formulating special planning, and based on widely soliciting opinions from 40 related ministries, commissions and directly subordinate institutions under the State Council including the Ministry of Foreign Affairs, the Ministry of Finance, the Ministry of Commerce, the People's Bank of China, 11 industrial associations, the local departments of development and reform as well as some research institutions, enterprises, experts and scholars, this Plan is formulated by the National Development and Reform Commission.
The 11th Five-Year Plan is a significant period serving as a link between the past and future in terms of the economic and social development of China. With the domestic and foreign environmental changes that China faces as well as the wider opening up to the outside world, the main purposes of the foreign capital utilization will be changed, and the ideas, means, key industries, regional structure, etc. of the foreign capital utilization will also change greatly. To actively and effectively utilize foreign capital and to practically transfer the emphasis to the introduction of advanced foreign technologies, management experiences and high-quality talents are the key points for improving the quality of foreign capital utilization during the 11th Five-Year Plan.
I. Basic Information on Foreign Capital Utilization of China During
The 10th Five-Year Plan
During the 10th Five-Year Plan, marked by the entry into WTO, the opening up to the outside world of China has entered a completely new stage of fully taking part in international economic cooperation and competition, and the foreign capital utilization has also walked onto a new step. During the 10th Five-Year Plan, a total of approximately $383 billion foreign capital was actually utilized in China, of which approximately $286 billion was foreign direct investment, approximately $38 billion was raised by issuing stocks overseas, and approximately $46 billion was from foreign loans. The amount has far exceeded the actually completed amount during the Ninth Five-Year Plan. The main features are as follows:
(1) The scale of foreign investments has been extended, and the investment methods have been more diversified. In terms of foreign direct investment, during the 10th Five-Year Plan, the utilization of foreign direct investment has increased by 34 percent over that during the Ninth Five-Year Plan. China has become one of the major destination countries of international capital and transnational companies' investment. In respect of other foreign investments mainly through overseas stocks financing, great progress has been made. By the end of 2005, 122 companies from the mainland have been listed in Hong Kong and other overseas stock exchanges, and a total of $55.544 billion of funds have been raised (excluding red chip enterprises). A total of 34 overseas institutions are admitted as qualified foreign institutional investors (QFII).
(2) We have made prominent achievements in receiving a new round of international manufacturing industry transfer. During the 10th Five-Year Plan, China successfully grasped the opportunities of structural adjustment and transfer of global manufacturing industry, brought in large amount of foreign direct investment in the manufacturing industry, and thus has preliminarily become one of the important bases of production in the world. The foreign investments that were absorbed in fund-intensive and technology-intensive industries obviously increased, and many large foreign-invested projects that had been prepared for years were carried out during the 10th Five-Year Plan. Foreign-invested enterprises played good demonstration roles in respect of technology, management, philosophy of business operation, etc., propelled the marketization and internalization of China's economy and enterprises and promoted formulation of a group of industries with international competitiveness including electronic information, integrated circuit, light industry, textiles, household electrical appliances, common mechanical and electrical products and so on..
(3) With the entirely implementation of China's WTO commitments, apparent progress has been made in the service industry in the opening up to the outside world. By the end of 2005, a total of 71 foreign banks from 20 countries and regions have set up 238 business operative institutions in China. More than 10 Chinese-invested commercial banks including China Construction Bank, Bank of China and Industrial and Commercial Bank of China have brought in overseas strategic investments, and China Construction Bank and Bank of Communications were successfully listed overseas. A total of four joint venture securities companies and 20 joint venture fund management companies were set up upon approval. On the basis of the WTO commitments, the insurance industry has been opened to foreign-invested insurance companies in all regions and in all businesses except related statutory insurances. By the end of 2005, the number of foreign-invested insurance companies had increased to 40 companies and 93 head companies and branches. Foreign-invested enterprises have become an important part in the fields of logistics and commerce. In 2005, the foreign capital utilized in the service industry of China exceeded one fifth of the total amount of foreign investments in the year.
(4) Foreign loans increased steadily, which effectively supported construction of key projects of the state. During the 10th Five-Year Plan, the foreign preferential loans actually utilized throughout China totaled $20.7 billion, which supported 150 key projects, including the reinforcing projects of the main dykes of the Yangtze River and the Yellow River, trunk line highways in Sichuan and other provinces, several trunk line railways from Hubei Province to Chongqing, the coal-bed gas project in Shanxi Province, pollution treatment along the basins of the Huaihe River, the projects of agricultural comprehensive development in the central and western regions, etc. Emphasis was laid on the central and western regions, which gained more than 70 percent of preferential loans when the foreign preferential loans being arranged. The financing channels and ways of international commercial loans took a feature of diversification. During the10th Five-Year Plan, $25.8 billion of international commercial loans (except loans granted by foreign-invested enterprises) have been borrowed in China, which mainly supported some projects on energy and traffic urgently-needed in the national economic development as well as some industrial projects with short construction period, good economic returns and ability to generate foreign exchange earnings through export such as the hydro-power station of the Three Gorges, Ling'ao Nuclear Power Station in Guangdong, Tianwan Nuclear Power Station, Qinshan Nuclear Power Station, purchase of planes by airlines, helped introduce some important advanced technical equipment and key equipment which could not be manufactured by China, alleviated the unsuitable structure of foreign exchange sources from domestic financial institutions, and enhanced the domestic institutions' ability to optimally allocate funds .
(5) Capacities of managing foreign debts have been further enhanced, and the foreign debt scale is in step with the level of the national economic development and the situation of the international balance of payment. With regard to the tendencies which foreign debts of China took on in recent years, namely, the flow increased by times, the total scale grew rapidly, and short-term foreign debts took up a large proportion, the administrative department of foreign debts successively promulgated related provisions, effectively controlled the growth of foreign debts and adjusted the structure of foreign debts in a timely manner, so as to keep the debt service ratio, liability ratio, and debt-to-GDP ratio of China's foreign debts within the safe lines that are accepted internationally.
(6) The regulations and policies on foreign capital utilization have been improved constantly, and the management level has been advanced gradually. On the basis of the requirements for the development of socialist market economy and China's WTO commitments, related laws and regulations as well as rules and regulatory documents of all departments and localities on foreign capital utilization have been completely cleared up and amended. We have amended the Catalogue for the Guidance of Foreign Investment Industries twice, amended the Catalogue of Priority Industries for Foreign Investment in the Central and Western Regions, and promulgated the implementation opinions on the promotion of the old industrial base in northeast China to widely open up to the outside world. According to the spirit of the investment system reform of the State Council, auxiliary reform of the management system of foreign capital utilization was conducted, the approval procedures for foreign loan projects have been regularized, the approval system for foreign-invested projects has been changed into ratification system, the examination steps have been reduced, and the work efficiency has been improved.
However, during the 10th Five-Year Plan, there were still some problems in China's foreign capital utilization worth paying attention to. First, the problem of "stressing quantity but ignoring quality," which has existed in absorbing foreign capital for long, is still prominent. Some local governments and departments absorbed foreign capital blindly without caring costs and pursued the quantity of foreign capital unilaterally, and the phenomenon that the state industrial policies were broken occurred frequently. Second, the leading enterprises in some industries were acquired and merged by foreign investors more frequently, and in some fields, the symptom of foreign investment monopoly arose or even expanded rapidly, which might threaten the state economic security, particularly industrial security. Third, the overall absorption scale and level of foreign direct investment in the central and western regions were comparatively low, and the gap from the foreign direct investment utilization in the eastern regions has been further widened. Fourth, the technology spillover of foreign-invested enterprises was not prominent, and some foreign-invested enterprise abused intellectual property protection, which were against domestic enterprises' independent innovations. Fifth, the existing administration system of foreign capital utilization urgently needs to be improved, and part of presently applicable policies are not favorable to create an environment for fair competition between domestic enterprises and foreign-invested enterprises. Sixth, a small number of projects of foreign loan utilization were not strictly administered, the fund utilization efficiency was low, and the debt repayment was difficult. Seventh, the proportion of short-term foreign debts increased rapidly, and the potential risks of foreign debt were increasing.
II. Guidelines and Overall Strategic Objective of Foreign Capital Utilization of China During the 11th Five-Year Plan Period
During the 11th Five-Year Plan, the overall domestic and foreign environments in respect of foreign capital utilization that China faces still tend to be good, which will create conditions for China to improve the quality and level of foreign capital utilization, and to continue keeping the foreign capital utilization in a large scale, as well. The 11th Five-Year Plan is, at the same time, a period when the external environmental restrictions and internal risks of the economic development of China are concentrated. On one hand, uncertainties for the world economic growth still exist, the global economic development is unbalanced, the international financial market is still likely to suffer from violent turbulence, the trade protectionism tendency is obvious, and the competition among all the countries for international capitals becomes increasingly severe. On the other hand, some prominent problems still exist. For example, China's energy sources and mineral resources are relatively insufficient, the ecological environment is frail, the mode of the economic growth is changed slowly, and the comparative advantages of labor force cost have been weakened.
After making a summary of the domestic and foreign situations, it can be preliminarily concluded that, during the 11th Five-Year Plan, the foreign capital utilization of China will have the following new changes: In respect of regional structure, with the rising of cost of production factors in the eastern regions, the central and western regions will face very good opportunities in utilizing foreign capital, and the smooth going of echelon transfer of foreign investments will become an important task of the central and western regions in utilizing foreign capital. In respect of industrial structure, the 11th Five-Year Plan will be an important period when China's service industry is reformed and developed and the service industry, particularly modern service industry, will become an industry to which foreign investments will speed up to enter. In respect of investment scale, the cost of foreign investments will be increased, and the speed of increase of foreign investments during the 11th Five-Year Plan will be heavily influenced due to the tendency of saturation of investments in domestic traditional manufacturing industries, the rise of the cost of domestic factors and the restrictions from energies and resources. In respect of the utilization methods of foreign capital, the credit standing of the state and enterprises will be improved constantly, reforms of formation mechanism of renminbi exchange rate and other related systems will be propelled continuously, the scale of foreign exchange reserves will be enlarged and the domestic investment banking industry will be increasingly developed, which will create conditions for China to utilize foreign capital and reduce financial risks in multiple ways. The layout of domestic traditional industries has been completed basically, and both establishing new investment projects and the merger and acquisition of enterprises will become important ways of foreign direct investment.
During the 11th Five-Year Plan, the Guidelines of foreign capital utilization of China shall be: taking Deng Xiaoping Theory and the important thoughts of "Three Represents" as the guide, to comprehensively carry out the scientific view of development and actively and effectively utilize foreign capital; to make an overall plan for domestic development and the opening up to the outside world, properly deal with the relationship between the foreign capital utilization and the balance of international payments and between utilizing foreign capital and making the best use of domestic funds, to promote adjusting and optimizing the domestic industrial structure and regional economic structure, as well as to conscientiously improve the quality of foreign capital utilization; to propel the construction of a more open independent innovation system, intensify the integrated innovation ability and the re-innovation ability after introduction of new technologies; in the process of further opening to the outside world, to actively defend and eliminate various risks and conscientiously guarantee the state economic security; to further reinforce, exert and create the comparative advantages of China, carry out the opening strategy for mutual benefit and common wins and actively take part in international economic and technological cooperation and competition within a larger scope, in wider areas and at a higher level.
During the 11th Five-Year Plan, the overall strategic objectives of foreign capital utilization of China shall be: to further propel the fundamental transformation of foreign capital utilization from "being quantity-oriented" to "being quality-oriented," conscientiously transfer the emphasis of foreign capital utilization from making up the shortage of funds and foreign exchanges to introducing advanced technologies, management experience and high-quality talent and focus more on ecological construction, environmental protection, conservation and comprehensive utilization of resources and energies. By way of introducing advanced foreign technologies and management experiences, we shall exert the functions of leading and radiating of foreign-funded enterprises to domestic enterprises, promote the improvement of the integrated innovation ability and the re-innovation ability after introducing new technologies; we shall strive for the further extension of foreign investments from the simple processing, assembly and production and manufacturing at a low level to research, development, high-end design, modern circulation and other new areas, and propel China to become one of the manufacturing bases of high value-added products in the world; we shall greatly improve the level of opening up to the outside world in the service industry; we shall markedly improve the scale, quality and level of foreign capital utilization in the old industrial bases in the central and western regions and those in northeastern regions and further intensify the economic globalization extent and international competitiveness in eastern regions; we shall utilize foreign preferential loans actively, reasonably and effectively and focus more on their quality and returns; we shall strengthen the control of the structure and purposes of foreign debts and strictly prevent the risks of foreign debt; the total scale of foreign capital utilization shall grow steadily on the basis of the 10th Five-Year Plan; up to 2010, the system of foreign capital utilization management shall be more reasonable and effective, and the foreign capital utilization shall be more harmonious with domestic economic and social development.
III. Major Tasks of Foreign Capital Utilization of China During
the 11th Five-Year Plan
(1) Guiding the industrial structural optimization and upgrading of foreign investments
Foreign investors shall be encouraged to invest in and develop modern agriculture, to concentrate on developing ecological agriculture and the planting and breeding industries with high technology content and high added value, to concentrate on comprehensively utilizing agricultural wastes, developing biomass energy, developing and manufacturing modern agricultural mechanical equipment and deeply processing of agricultural products, and to introduce modern agricultural technologies and management modes.
We shall encourage foreign investors to continue the investment in electronic information industry, petrochemical industry, chemical industry, automobile industry and so on. We shall, on requirements for China's industrial upgrading of the heavy chemical industry, appropriately increase large foreign investment projects in petrochemical industry and chemical industry and so on. We shall particularly encourage the projects in which self-balance of resources can be realized, and foreign advanced technologies shall be introduced by various ways such as equity joint ventures and contractual joint ventures. The automobile manufacturing industry shall, when continuing to upgrade the joint ventures' products and improving their market competitiveness, encourage foreign capital to be mostly contributed to automobile design and establishment of research and development centers, and continue encouraging foreign capital to develop the manufacturing of professional automobile parts and components with high technology content.
We shall encourage foreign capital to continue to be used in reorganization and reform in mechanical industry, light industry, industries concerning textiles, raw materials, construction and building materials and other traditional industries, improving enterprises' technical level and product class and enhancing enterprises' international competitiveness. We shall reform domestic traditional industries by ways of introducing advanced applicable technologies, equipment and management experiences, and bring in foreign investments to develop labor-intensive industries with comparative advantages of China and export processing industry and promote the development of the medium-sized and small enterprises featured as "professional, specialized, unique, new and excellent." Foreign capital shall be led to be used in the energy area so as to accelerate exploring, exploiting, utilizing domestic petroleum and natural gas as well as building up the transporting pipelines and speed up the development of renewable energies.
We shall continue encouraging foreign capital to invest in infrastructure construction. Foreign investments shall be actively utilized to speed up the construction of traffic projects such as highways, ports and railways, as well as urban infrastructure construction such as rail traffic, water supply, gas supply, heat supply, sewage and garbage treatment and so on, and particularly be encouraged to be invested in urban infrastructure construction in the old industrial bases in the central and western regions and those in northeastern regions, and in the development of the succeeding industries in resource-exhausted cities.
(2) Promoting the construction of a resource-conservative and environment-friendly society
We shall intensify the policy guidance of foreign capital utilization in resource conservation and environmental protection and strictly restrict foreign-invested projects at a low level and with high consumption and high pollution; we shall encourage foreign capital utilization in saving water, land and materials and strengthening comprehensive utilization of resources, and encourage the introduction of advanced applicable process, technology and equipment which may effectively conserve energy and reduce consumption through foreign capital utilization.
We shall actively propel foreign capital utilization in areas of environmental protection, and propel implementation of key projects of environmental protection engineering. We shall intensify comprehensive prevention and control of water pollution, air pollution and solid waste pollution caused by foreign-invested enterprises and effectively control the pollutant discharge. Foreign investors shall be encouraged to invest in recycling and utilizing waste metal, worn tires, waste electronic products and other industrial wastes as well as utilizing household garbage and sludge as resources. We shall speed up ecological environment construction in the central and western regions and encourage foreign investors to invest in biomass energy transformation projects and clean energy projects.
(3) Propelling the opening up of service industries to the outside world actively and steadily
The opening up of the banking industry to the outside world shall be in line with the principles of progressing in order, prudent supervision and risk control. We shall keep a reasonable structure and layout of Chinese-invested banks and foreign-invested banks within the territory of China. We shall, on the premise that the Chinese party controls the shares, allow domestic commercial banks to bring in foreign strategic investors, actively support the establishment of strategic partnerships such as stock right cooperation, etc. between foreign-invested banks and Chinese-invested banks, and improve the corporate governance structure. We shall encourage both Chinese-invested and foreign-invested banks to cooperate in terms of financial products, business techniques, information exchange, resource sharing and personnel trainings, etc., introduce advanced business operation philosophy, operational modes and senior management talents of the modern banking industry, and promote the transformation of domestic commercial banks' mechanisms.
The insurance industry shall carefully fulfill China's commitments to the WTO, lay emphasis on bringing in overseas insurance companies and other financial institutions which are specialized in the areas such as pension, medical, liability and agricultural insurance and so on. We shall encourage foreign-invested insurance companies to conduct business by setting up business institutions in the central and western regions and in northeastern regions. We shall, on the premise that the Chinese party controls the shares, allow state-owned insurance companies to bring in foreign strategic investors and allow qualified domestic joint stock insurance companies to bring in foreign investments. We shall, through foreign capital utilization, speed up introduction of advanced foreign insurance products, operational modes and senior management talents so as to enhance the competitiveness of China's insurance industry.
We shall propel the opening up to the outside world of the securities industry in an orderly way and step by step. We shall, with the principle of prudent supervision, continue bringing in foreign investors, promote securities business institutions to improve their corporate governance structure, strengthen their internal risk control and management and enhance their management level; and speed up the industrial integration as well as product and service innovation. We shall allow listed enterprises to bring in strategic investments from overseas strategic investors after finishing the share structure reform.
The telecommunications industry shall be steadily and orderly opened to foreign investors. It shall be done strictly according to China's commitments to the WTO. Foreign investors shall be allowed to run domestic telecommunications business within the statutory scope through establishing joint ventures, the proportion of foreign investments in the market of value-added telecommunications service may be enlarged, and the opening up of the basic service market shall be propelled prudentially. The policy system on the opening up to the outside world of the telecommunications industry shall be improved.
The commercial sector shall lay emphasis on improving the level of foreign investment utilization. We shall, by aiming at the introduction of modern business operation philosophy, advanced foreign distribution methods, marketing networks and service means, keep a proper increase of the number of foreign-invested commercial retail enterprises, and develop foreign-invested commercial wholesale enterprises, large chain stores and distribution centers in an orderly way. Large domestic commercial enterprises shall be supported to optimize the structure and improve the management level by bringing in foreign capital. We shall pay close attention to the influence of foreign investments to the commercial development of China, do conscientious supervision over anti-trust and fair trading, and keep reasonable layout, market shares and structure of Chinese-invested and foreign-invested commercial enterprises in large and medium-sized cities.
Large foreign logistics enterprises shall be encouraged to set up logistics enterprises in China in light of related provisions of the laws and regulations of China. We shall encourage participation in construction and operation of domestic logistics facilities by utilizing foreign funds, equipment and technologies.
We shall actively propel foreign capital utilization in the tourism industry. We shall utilize foreign capital to improve tourism facilities, protect and exploit tourism resources, attract overseas tourists and improve the management. We shall encourage wider opening up to the outside world in the industries of transport, architecture, legal service, accounting service, consulting, etc. through Chinese-foreign equity and contractual joint ventures and other forms. Foreign investments shall be actively and steadily promoted to contribute to the cultural area, including distribution of audio and video products, operation and brokerage of performance places and cultural products, etc. State cultural security shall be maintained, too.
(4) Promoting the establishment of a more open independent innovation system
Foreign investors, particularly large transnational companies, shall be encouraged to transfer the processing and manufacturing techniques with higher technical level and higher value-added content as well as their research and development institutions to China, and transnational companies shall be encouraged and attracted to set up bases of production and manufacturing, auxiliary facilities, service outsourcing and training in China so as to exert the technology spillover effect promote enhancing Chinese enterprises' capacity of independent innovation.
We shall exert functions of strategic guidance and comprehensive coordination of the government, encourage foreign enterprises, particularly transnational companies, to transfer advanced technologies to China by means of setting up joint ventures, cooperative production, joint manufacturing and so on. Technical exchanges shall be promoted between foreign-invested enterprises and domestic enterprises. Cooperation on scientific research and technological development shall be encouraged between foreign companies and domestic new hi-tech enterprises, and establishment of Chinese-foreign equity and contractual joint ventures in major hi-tech areas shall be actively propelled.
Foreign investors shall be encouraged and guided to invest in venture capital in China. Foreign capital will be utilized to speed up the development of venture capital service system of China and promote the establishment of a group of domestic venture capital enterprises with strong independent innovation capacity, flexible mechanism and high internationalization level. People with overseas education background and overseas Chinese professionals shall be encouraged to come back to China to set up hi-tech enterprises.
(5) Promoting harmonious regional economic development
The eastern coastal regions shall, as the most important regions on foreign capital utilization, continue exerting the advantages in various terms such as highly export-oriented economy, sufficient funds and talents, advanced technologies, good locations and strong auxiliary capacity, so as to be the first to realize the transformation of the foreign capital utilization from "being quantity-oriented" to "being quality-oriented." They shall try to improve independent innovation capacity, speed up realizing the optimization and structure upgrading and transformation of growth pattern, and enhance their international competitiveness and sustainable development capacity. We shall fully exert the radiating and driving functions by foreign investments in coastal areas such as the Pearl River Delta, the Yangtze River Delta and the Bohai Sea Rim Region to other regions, and shall, on the premise of stressing intensive utilization of land, endeavor to develop fund-intensive and technology-intensive industries, hi- and new-tech industries and modern service industries, and improve the technical content of foreign-invested projects; we shall also strengthen the intra-regional industrial structure optimization and realize a rational labor division and exploit their own particular advantages for mutual benefit. Large cities in coastal regions shall make important progress in opening up to the outside world in the service sectors such as banking, insurance, commerce, telecommunications and so on.
(To be continued)
利用外资"十一五"规划(上)
国家发展和改革委员会
2006年11月10日
前 言
利用外资"十一五"规划,是我国国民经济和社会发展"十一五"规划的重要组成部分。该项规划在总结"十五"利用外资的总体情况,分析"十一五"面临的国内外环境的基础上,提出了"十一五"期间我国利用外资的指导思想、战略目标、重点任务及相应的政策措施,是"十一五"期间我国利用外资工作的重要指南。
"十一五"期间,利用外资工作要全面贯彻落实科学发展观,进一步推动利用外资从"量"到"质"的根本转变,使利用外资的重点从弥补资金、外汇不足切实转到引进先进技术、管理经验和高素质人才上,更加注重生态建设、环境保护、资源能源节约与综合利用,切实把利用外资同提升国内产业结构、技术水平结合起来。
根据国务院同意的专项规划编制计划,本规划由国家发展和改革委员会在广泛征求外交部、财政部、商务部、人民银行等国务院40个有关部委、直属机构和11家行业协会,地方政府发展改革部门及部分研究机构、企业、专家学者的意见基础上编制。
"十一五"是我国经济和社会发展承前启后的重要时期。随着我国面临的国内外环境变化和我国对外开放的进一步扩大,利用外资的主要目的将发生变化,利用外资的理念、方式以及重点产业、地区结构等都将出现重大变化。积极有效利用外资,切实把重点转到引进国外先进技术、管理经验和高素质人才上,是"十一五"时期提高利用外资质量的关键和重点。
一、"十五"时期我国利用
外资的基本情况
"十五"期间,以加入世界贸易组织为标志,我国对外开放进入全面参与国际经济合作与竞争的崭新阶段,利用外资也迈上了新台阶。"十五"期间,我国实际利用外资总额共计约3830亿美元,其中外商直接投资约2860亿美元,境外发行股票筹资约380亿美元,借用国外贷款约460亿美元,大大超过了"九五"的实际完成额。主要特点是:
(一)外商投资规模进一步扩大,投资方式更为多元化。在外商直接投资方面,"十五"期间,利用外商直接投资比"九五"增长超过34%。我国已成为国际资本和跨国公司投资的主要目地国之一。以境外股票融资为主的外商其它投资取得较大进展。截至2005年底,内地到香港以及其它境外证券交易所挂牌的公司有122家,累计筹资555.44亿美元(不包括红筹企业)。共有34家境外机构获得境外合格机构投资者(QFII)资格。
(二)承接新一轮国际制造业转移取得显著成效。"十五"期间,我国成功抓住全球制造业结构调整和转移的机遇,吸收大量制造业外商直接投资,使我国初步成为世界重要生产基地之一。资金技术密集型行业吸收外资明显增加,许多酝酿多年的大型外商投资项目在"十五"期间实施。外商投资企业在技术、管理以及经营理念等方面起到了良好的示范效应,推动了我国经济和企业的市场化和国际化,促进了电子信息、集成电路、轻工纺织、家用电器及普通机电产品等一批初具国际竞争力产业的形成。
(三)服务业全面履行入世承诺,对外开放取得明显进展。截至2005年底,共有20个国家和地区的71家外国银行在中国设立了238家营业性机构。建行、中行、工行等十几家中资商业银行引入境外战略投资,建行、交行成功实现了境外上市。共有4家合资证券公司和20家合资基金管理公司获准设立。保险业已按入世承诺对外资保险公司放开了全部地域和除有关法定保险以外的全部业务,2005年底外资保险公司数量已增加到40家公司93家总分支公司。外商投资企业已成为物流、商贸领域的重要组成部分。2005年,我国服务业利用外资超过当年外商投资总额的五分之一。
(四)借用国外贷款平稳增长,有力地支持了国家重点项目的建设。"十五"期间,全国实际使用国外优惠贷款约207亿美元,支持了150多个重大项目,包括长江、黄河的干堤加固项目,四川等省干线公路,湖北至重庆等一些干线铁路,山西省煤层气项目,淮河等流域污染治理,中西部地区农业综合开发项目等。国外优惠贷款安排坚持以中西部地区为主,70%以上优惠贷款投向中西部地区。借用国际商业贷款的融资渠道及方式呈现多样化特征,"十五"期间我国实际借用国际商业贷款(外商投资企业除外)约258亿美元,重点支持了一些国民经济发展急需的能源、交通项目以及部分建设周期短、经济效益好、有出口创汇能力的工业项目,如三峡水电站、广东岭澳、田湾、秦山等核电站、航空公司购置飞机等,引进了国内不能生产的重大先进技术装备和关键设备,缓解了国内金融机构外汇资金来源结构不匹配的情况,提高了国内机构优化配置资金的能力。
(五)外债管理能力进一步增强,外债规模与国民经济发展水平和国际收支状况相适应。针对近年来我国外债呈现流量成倍增加、总规模迅速增长、短期外债所占比例较高的趋势,外债管理部门陆续出台了有关规定,及时有效控制外债增长并调整外债结构,我国外债偿债率、负债率、债务率均保持在国际公认的安全线以内。
(六)利用外资的法规政策不断完善,管理水平逐步提高。按照发展社会主义市场经济的要求和我国的入世承诺,对利用外资的有关法律、法规和各部门、各地方的规章、规范性文件进行了全面清理修订。两次修订了《外商投资产业指导目录》,修订了《中西部地区外商投资优势产业目录》,发布了关于促进东北老工业基地进一步扩大对外开放的实施意见。按照国务院投资体制改革精神,利用外资的管理体制进行了配套改革,规范了国外贷款项目的审批程序,对外商投资项目由审批制改为核准制,减少了审核环节,提高了工作效率。
"十五"期间我国利用外资仍存在一些值得关注的问题:一是长期存在的引进外资"重数量轻质量"的问题仍然比较突出,一些地方政府和部门不计成本盲目招商引资,片面追求引进外资的数量,违反国家产业政策的现象时有发生。二是部分行业龙头企业被外资并购情况增加,个别领域出现外资垄断或垄断迅速扩大的苗头,可能对国家经济安全特别是产业安全形成威胁。三是中西部地区吸引外商直接投资规模和水平总体比较低,与东部地区利用外商直接投资差距进一步扩大。四是外商投资企业带来的技术外溢作用不够突出,部分外商投资企业滥用知识产权保护,不利于我国企业自主创新。五是现有的利用外资管理体制亟待完善,部分现行政策不利于创造内外资企业公平竞争的环境。六是少数利用国外贷款项目管理不严、资金利用效率低、偿债困难。七是短期外债比例增长较快,潜在的外债风险增加。
二、"十一五"我国利用外资的
指导思想和总体战略目标
"十一五"时期,我国利用外资面临的国内外环境总体上仍然趋好,为我国提高利用外资质量和水平、继续保持利用外资较大规模创造了条件。同时"十一五"时期也是我国经济发展的外部环境制约、内部风险较为集中的时期。一方面,世界经济增长仍存在不确定因素,全球经济发展不平衡,国际金融市场发生剧烈动荡的可能性依然存在,贸易保护主义倾向明显,各国对国际资本的争夺日趋激烈。另一方面,我国能源和重要矿产资源相对不足,生态环境比较脆弱,经济增长方式转变缓慢,劳动力成本的比较优势有所减弱等问题比较突出。
综合国内外形势初步判断,"十一五"时期,我国利用外资将出现新的变化:从区域结构看,随着东部地区生产要素成本的上升,中西部地区将迎来利用外资的良好机遇,顺利实现外商投资的梯次转移将成为中西部地区利用外资面临的重要任务。从产业结构看,"十一五"时期将是中国服务业改革与发展的重要时期,服务业尤其是现代服务业将成为外资加速进入的行业。从投资规模看,由于国内传统制造业投资已出现饱和趋势,国内要素成本的上升和能源资源的制约,将加大外商投资的成本并对"十一五"时期外商投资的增速产生较大影响。从利用外资方式看,国家和企业信用水平不断提高,人民币汇率形成机制以及其他相关体制的改革不断推进,较大规模的外汇储备和国内投资银行业的日益发展,为我国以多种方式利用外资、降低金融风险提供了条件。国内传统产业布局已基本完成,新建投资与企业并购均成为外商直接投资的重要方式。
"十一五"期间,我国利用外资的指导思想是:以邓小平理论和"三个代表"重要思想为指导,全面贯彻落实科学发展观,积极有效利用外资;统筹国内发展和对外开放,妥善处理好利用外资与国际收支平衡、利用外资与用好国内资金之间的关系,促进国内产业结构、区域经济结构的调整优化,切实提高利用外资的质量;推动建立更加开放的自主创新体系,增强集成创新能力和引进消化吸收再创新能力;在扩大开放中积极主动抵御和化解各类风险,切实保障国家经济安全;进一步巩固、发挥和创造我国的比较优势,实施互利共赢的开放战略,在更大范围、更广领域和更高层次上积极参与国际经济科技合作与竞争。
"十一五"期间,我国利用外资的总体战略目标是:进一步推动利用外资从"量"到"质"的根本转变,使利用外资的重点从弥补资金、外汇不足切实转到引进先进技术、管理经验和高素质人才上,更加注重生态建设、环境保护、资源能源节约与综合利用。通过引进国外先进技术和管理,发挥外资企业对国内企业的引导、辐射作用,促进我国集成创新能力和引进消化吸收再创新能力的提高;努力实现外商投资从简单的加工、装配和低水平生产制造层次进一步向研究开发、高端设计、现代流通等新领域拓展,推动我国成为世界高附加值产品的制造基地之一;较大程度提高服务业对外开放水平;显著提高中西部地区和东北地区等老工业基地利用外资的规模、质量和水平,进一步增强东部地区经济国际化程度和国际竞争力;积极、合理、高效地使用国外优惠贷款,更加注重贷款使用的质量与效益;加强对外债结构和使用方向的调控,严格防范外债风险;利用外资总规模要在"十五"基础上保持平稳增长;到2010年,利用外资的管理体制更加合理有效,利用外资与国内经济社会发展更加协调。
三、"十一五"期间我国
利用外资的主要任务
(一)引导外商投资产业结构优化和升级
鼓励外商投资发展现代农业,重点发展生态农业和高技术含量、高附加值的种植业、养殖业及农业废弃物综合利用、生物质能开发、现代农机装备开发与制造和农产品深加工,引进现代化农业技术和经营管理方式。
鼓励外商继续投资电子信息、石化、化工、汽车等行业。根据我国重化工业产业升级的要求,适当增加大型石化、化工等产业利用外资的项目,特别鼓励能实现资源自我平衡的项目,通过合资合作等多种方式引进国外先进技术。汽车制造业在继续做好合资企业产品升级换代、提高市场竞争力的同时,鼓励外资重点投向汽车设计、研发中心建设,继续鼓励外资发展专业化、高技术含量的汽车零部件生产。
鼓励外资继续参与机械、轻工、纺织、原材料、建筑业、建材等传统产业的改组改造,提高企业技术水平和产品档次,增强企业的国际竞争力。通过引进先进适用技术、设备和管理改造国内传统产业,引进外资发展我国具有比较优势的劳动密集型产业、出口加工业和促进"专、精、特、新、优"中小企业发展。引导外资在能源领域投资,加快国内石油天然气的勘探、开发、利用及输送管道建设,加快发展可再生能源。
继续鼓励外商投资基础设施建设。积极利用外资加快公路、港口和铁路等交通项目和轨道交通、供水、供气、供热、污水和垃圾处理等城市基础设施建设,特别鼓励外商投资于中西部地区和东北等老工业基地的城市基础设施建设和资源枯竭型城市接续产业的发展。
(二)促进建设资源节约型、环境友好型社会
强化资源节约和环境保护的利用外资政策导向,严格限制低水平、高消耗、高污染的外资项目;鼓励利用外资节约用水、节约土地、节约材料和加强资源综合利用,鼓励通过利用外资引入先进适用的、有效节能降耗的工艺、技术和设备。
积极推进环保领域利用外资,推动重点环保工程项目的实施。加强对外商投资企业水污染、大气污染、固体废物污染等综合防治,有效控制污染物排放。鼓励外商投资废旧金属、废旧轮胎、废弃电子产品等工业废弃物的回收利用和生活垃圾、污泥资源化利用。加快发展中西部地区的生态环境建设,鼓励外商投资生物质能源转化和清洁能源等项目。
(三)积极稳妥推进服务业对外开放
银行业对外开放要坚持有序推进、审慎监管和控制风险的原则,保持境内中资银行和外资银行的合理结构和布局。允许国内商业银行在坚持中方控股的前提下引入国外战略投资者,积极支持外资银行和中资银行之间建立股权合作等战略伙伴关系,完善法人治理结构。鼓励中外资银行在金融产品、业务技术、信息交流、资源共享和人员培训等方面的合作,引进现代银行业的先进经营理念、经营方法和高级管理人才,促进国内商业银行机制的转变。
保险业要认真履行我国加入世界贸易组织承诺,重点引进在养老、医疗、责任和农业保险等方面有专长的境外保险公司和其它金融机构,鼓励外资保险公司到中西部和东北地区设立经营机构开展业务。允许国有保险公司在坚持中方控股的前提下引入国外战略投资者,允许有条件的国内股份制保险公司引入外资。要通过利用外资,加快引进国外先进的保险产品、经营方式和高级管理人才,提高我国保险业的竞争力。
循序渐进推进证券业对外开放。按照审慎监管的原则,继续引入国外投资者,促进证券经营机构改善公司治理结构,加强内部风险控制和管理,提高经营管理水平;加快行业整合、产品和服务创新。上市企业股权分置改革完成后,允许境外战略投资者对其进行战略投资。
稳妥、有序地向外资开放电信行业。严格按照我国加入世界贸易组织承诺向外资开放电信业,允许外商在法定范围内以合资方式开展国内电信业务,扩大外资在电信增值服务市场的投资,审慎推进基础服务市场的开放。完善电信业对外开放的政策体系。
商业领域吸引外资重在提高水平。要以引进现代商业经营理念和国外先进的分销手段、营销网络和服务手段为目标,保持外商投资商业零售企业数量的适度增长,有序发展外商投资的商业批发企业、大型连锁商店和配送中心。支持国内大型商业企业通过引入外资优化结构,提高管理水平。密切关注外商投资对我国商业发展的影响,切实做好反垄断和公平交易的监管工作,保持内外资商业企业在大中城市合理的布局、市场份额和结构。
鼓励国外大型物流企业根据我国法律、法规的有关规定到国内设立物流企业。鼓励利用国外的资金、设备和技术,参与国内物流设施的建设或经营。
积极推进旅游业利用外资。利用外资完善旅游设施,保护、开发旅游资源,吸引境外客源,改进经营管理。鼓励采取中外合资、合作等多种方式,扩大运输、建筑、律师、会计、咨询等行业的对外开放。积极稳妥地推进文化领域引进外资,包括音像制品分销、演艺场所和文化产品经营、经纪等。维护国家文化安全。
(四)促进建立更加开放的自主创新体系
鼓励外商特别是大型跨国公司把更高技术水平、更高附加值含量的加工制造环节和研发机构转移到我国,鼓励和吸引跨国公司来华设立生产制造基地、配套基地、服务外包基地、培训基地,发挥技术溢出效应,促进我国企业自主创新能力的增强。
发挥政府的战略导向、综合协调作用,鼓励国外企业特别是跨国公司通过组建合资企业、合作生产、联合制造等方式向我国转移先进技术。促进外资企业和国内企业的技术交流。鼓励国外公司与国内高新技术企业在科研和技术开发方面合作,积极推进重大高技术领域的中外合资合作。
鼓励和引导外商在我国进行风险创业投资,利用外资加快我国创业投资服务体系发展,促进形成一批自主创新能力强、机制灵活、国际化程度高的国内创业投资企业。鼓励海外留学人员、海外侨胞专业人才回国创办高技术企业。
(五)促进区域经济协调发展
东部沿海地区作为我国利用外资最主要的地区,要继续发挥经济外向程度高和资金、人才、技术、区位、配套能力等多方面优势,率先实现利用外资由"量"到"质"的转变,努力提高自主创新能力,加快实现结构优化升级和增长方式转变,增强国际竞争力和可持续发展能力。要充分发挥珠江三角洲、长江三角洲和环渤海地区等沿海地区外资对其它地区的辐射、带动作用,在注重集约利用土地的前提下,大力发展资金技术密集型产业、高新技术产业和现代服务业,提高外商投资项目的技术含量;加强区内产业结构的优化,实现各有特色、分工协作和优势互补;沿海地区大城市在银行、保险、商业、电信等服务领域对外开放要取得重要进展。
(未完待续) |
