新版外商投资产业指导目录将于6月出台，这是在全球化遭遇波折，国际经贸秩序面临重大挑战背景下，中国释放出的坚定维护全球多边主义和自由贸易投资体系，深化推进制度性开放的强烈信号。

中国对外开放走过了40年历程, 开放经济体制也经历了一条“政策型开放→商品及要素流动型开放→制度型开放”的发展路径。近年来，全球化遭遇挫折，国际国内形势出现重大变化，如何适应全球化新变局，如何改革完善对外领域中不适应新国际规则的政策掣肘，如何以高质量开放推动高质量发展，已成为关系中国经济社会长期发展的重大命题。

今年3月，中国发布《外商投资法》，确定参照“竞争中性原则”进行国内改革。这些举措是中国进行制度型开放的重要步骤，中国正在营造与国际高水平对接的经贸规则体系，建立促进市场经济发展的营商环境，形成全面开放的新格局。而近期，中国国家发改委新闻发言人在谈到有关负面清单修订情况时强调，关键在于“精简”两个字，“我们对清单只做减法，不做加法”。这意味着“清单更短，开放更大”将是2019年外商投资产业指导目录的基本原则。

事实上，2018版指导目录就推出了分别适用于全国（48条）和自贸试验区（45条）的两张负面清单，全面放宽了一二三产业市场准入，涉及金融、交通运输、商贸流通、专业服务、制造、基础设施、能源、资源、农业等各领域。2019年新的《鼓励外商投资产业目录》进一步扩大鼓励外商投资范围，优化外商投资产业和区域结构。与2017版的限制类条目35条，禁止类条目28条相比，2019版全面废止限制类、禁止类。特别是基本放开制造业领域，体现出中国鼓励外资深入参与中国开放型经济体系和全球的产业链升级过程，并推动外商投资高度本地化，与中国经济和市场进一步深度融合。

历史经验证明，一个国家的市场越开放，就越会成为全球价值洼地。根据联合国贸发会议最新发布的《2019全球外国直接投资报告》，在逆全球化风潮愈演愈烈，以及一些主要经济体纷纷加大投资门槛和壁垒导致全球外国直接投资持续低迷的大背景下，中国吸引外商直接投资逆势上涨。2018年中国吸引国际资本流入量达到1390亿美元，为全球第二资本流入国。而中国商务部的最新数据也显示，今年1至5月，发达经济体对华投资增长显著。新加坡、韩国、日本、美国、英国等对华实际投入金额同比分别增长33.9%、66.9%、5.1%、16.3%和56.9%。随着中国全面对外开放步伐加快以及营商环境持续改善，中国将持续保持全球投资吸引力。

然而，在创造更加开放的制度环境的同时，也需要法律、规则、规范等来保障国家核心利益不受到重大威胁。中美贸易摩擦升级加剧，以及高科技博弈的展开，已对全球产业链、供应链安全构成严重威胁，产业安全问题变得日益突出。当前，美国《外国投资风险审查现代化法案（2018）》显著扩大了外国投资委员会审查的法律基础，它涉及三大重点领域：一是重要的工业技术，包括人工智能、机器人、纳米和微芯片技术等；二是基础设施，包括港口设施和运营、能源与电力生产与分配、公路和铁路、通信系统，以及数据中心；三是与国家安全相关的科技和制造业，如航空航天、遥感和电信硬件。与此同时，美国已全面修订现行出口管制法规，强化“长臂管辖”行为。特朗普签署《2019财年国防授权法案》，作为其重要组成部分的《出口管制改革法案》提高了对外国控股公司，特别是中国公司的限制条件，增加了对“新兴和基础技术”的出口管制，建立了跨部门协商机制以提高执法能力。从中长期看，中美科技博弈的大幕刚刚拉开，中国在促进产业开放、市场开放的同时，也需要在外商投资负面清单制度以及产业指导目录的框架下，加快完善国家安全保障制度。

The new 2019 version of the Negative List for Foreign Investment and the Catalogue of Industries for Guiding Foreign Investment will be released in June. This is a strong signal that China will maintain global multilateralism and a system of free trade and investment, deepening the promotion of institutional openness at a time when globalization is encountering setbacks and challenges face the international economic order.

China has been open to the outside world for 40 years, and its open economic system has also developed: from openness in policy, openness now includes commodities and institutions. In recent years, the pace of globalization has suffered setbacks, and major changes have taken place internationally and domestically. How to adapt to shifting globalization, how to reform and improve policies to fit new international rules, and how to promote high-quality development have become major questions concerning the long-term development of China's economy and society.

In March of this year, China issued a new Foreign Investment Law and decided to carry out domestic reforms based on the principle of competitive neutrality. These measures are an important step for China to carry out institutional openness. China is creating a system of economic and trade rules that is connected with international high standards, and establishing a business environment that promotes the development of the market economy, while forming a new pattern of comprehensive openness. Recently, a spokesperson for China's National Development and Reform Commission stressed that in revising the negative list, the main goal is to streamline: “We won't add anything. We will only subtract from the list.” This means that a shorter list and greater openness will be the basic principles of the new 2019 negative list for foreign investment and the new catalogue of industries for guiding foreign investment.

In fact, the 2018 version of the negative list for foreign investment reduced the number of national items to 48 and the number of free trade pilot zone items to 45, comprehensively relaxing market access for primary, secondary, and tertiary industries — involving sectors such as finance, transportation, trade and commerce, professional services, manufacturing, infrastructure, energy, resources, and agriculture. The 2019 version of the list will further expand the scope for encouraging foreign investment while improving foreign investment industries and regional structures. Compared with the 2017 version of the list, which listed 35 items in the restricted category and 28 items in the prohibited category, the 2019 version will completely abolish the restricted and prohibited categories. In particular, the basic liberalization of manufacturing reflects China's encouragement of foreign investment's participation in China's open economic system, as well as the upgrading of the global industrial chain, which will make foreign investments become highly localized and deepen their integration with the Chinese market.

History has proven that the more open a country's market is, the more it will become a hub of global value. According to the latest World Investment Report by the United Nations Conference on Trade and Development, the trend of deglobalization has intensified. Against the backdrop of some major economies' increased investment thresholds and barriers that have led to a global downturn in foreign direct investment, China has attracted foreign direct investment to oppose this trend. In 2018, capital flows into China reached $139 billion, making it the world's second-largest recipient. The latest data from the Ministry of Commerce also shows that from January to May of this year, investments flowing into China from developed economies have grown significantly. Investments from Singapore, South Korea, Japan, the United States, and the United Kingdom increased by 33.9%, 66.9%, 5.1%, 16.3%, and 56.9%, respectively. With the acceleration of China's comprehensive opening up and the continuous improvement of the business environment, China will continue to remain an attractive place for global investments.

However, in creating a more open institutional environment, China must protect its core interests from major threats using laws, rules, and norms. The escalation of China-US trade frictions and the development of high-tech competition have become serious threats to the global industrial chain and to supply chain security, with industrial security issues becoming increasingly prominent. Currently, in the United States, the Foreign Investment Risk Review Modernization Act of 2018 significantly expands the legal basis for the Foreign Investment Committee to review investments in three key areas: one, important industrial technologies, including artificial intelligence, robotics, nano, and microchip technologies; two, infrastructure, including port facilities and operations, energy and power production and distribution, roads and railways, communications systems, and data centers; and three, national security-related technologies and manufacturing, such as aerospace, remote sensing, and telecommunications hardware. At the same time, the United States has comprehensively revised its existing export control regulations and has strengthened its long-arm jurisdiction. President Donald Trump has signed the National Defense Authorization Act for fiscal year 2019, an important part of the Export Control Reform Act, which increases restrictions on foreign holding companies, especially Chinese companies, increases export controls on emerging and basic technologies, and establishes an inter-departmental consultation mechanism to improve law enforcement capabilities. In the medium and long term, China-US science and technology competition has just begun. While promoting open industry and the opening of its market, China also needs to accelerate the improvement of its national security system under the framework of the foreign investment negative list system and the industry guidance catalogue.