China to Roll Out Nationwide 'Negative List' by Oct. 1
(Beijing) – China will adopt a nationwide "negative list", which identifies industries that are closed to overseas investors, on Oct. 1, following a three-year pilot project in the Shanghai Free Trade Zone.
Currently, local governments can prevent or limit investments in sectors that have not been specifically cleared. The list aims to relax restrictions for foreign investors and open-up markets further, the State Council, China's cabinet, said on Monday.
Companies who want to tap sectors outside the list no longer need government approval before investing, a statement from the Ministry of Commerce said. Instead, they need only to submit a detailed plan and register with the Ministry of Commerce.
The negative list includes 18 industries such as fisheries and the domestic courier business, which has grown quickly with the rise of online shopping. Other areas barred to foreign investors include exploitation of rare metals such as tungsten, molybdenum, tin and antimony; ivory carving; selling tiger bones; and producing arms and ammunition.
The list will replace a catalogue issued two decades ago to identify industries that rejected foreign capital.
Inbound foreign investment rose at a moderate 5 percent year-on-year in the first half to $70 billion.
Feb 24 18:02
Feb 24 17:28
Feb 24 14:15
Feb 24 14:04
Feb 24 13:10
Feb 22 03:07
Feb 21 14:54
Feb 20 17:29
Feb 20 15:19
Feb 20 14:58
- 1Another Study Claims Wuhan Seafood Market May Not Be Source of Covid-19 Outbreak
- 2Coronavirus Among Medics More Widespread Than Reported, Research Shows
- 3Coronavirus Friday Update: ‘No Turning Point Yet,’ Politburo Meeting Finds; Cases in Iran ‘Worrisome,’ WHO Says
- 4Coronavirus Tuesday Update: Cabinet Waives Employers’ Welfare Contribution, First Biopsy Study Unveils How Covid-19 Hurts Patients
- 5Coronavirus Sunday Update: Iran Reports 8 Deaths; Chinese Researchers Doubt Wuhan Virus Origin
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas