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New Negative List | |
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The groundbreaking ceremony for a new plant of joint-venture automaker BMW Brilliance in Shenyang, northeast China's Liaoning Province, on October 11 (XINHUA) The new negative list of foreign investment in China was officially released on June 28. The National Development and Reform Commission (NDRC) and the Ministry of Commerce jointly issued the Special Management Measures (Negative List) for Foreign Investment Access (2018), which took effect on July 28 and greatly lowered the market threshold. According to NDRC sources, the main features are as follows. First, the negative list will promote openness in an all-round manner. The restriction on market access has been eased in primary, secondary and tertiary industries, including finance, transportation, trade and commerce, professional services, manufacturing, infrastructure, energy, resources, agriculture, with 22 measures. Second, the list has been simplified from 63 items in 2017 to 48 special management measures. As a result, the foreign investment approval process will be further streamlined. Third, overall planning for opening up in some fields will be carried out. The 2018 negative list provides a roadmap and schedule of opening the auto and financial sectors, gradually widening the opening up and allowing transition in relevant industries. Copyedited by Rebeca Toledo Comments to dengyaqing@bjreview.com |
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