China to Further Reduce Restrictions, Offer Easier Market Access for Foreign Investment

(ECNS) — China is considering updating its negative list for market access and removing more restrictions for foreign investment entering the Chinese market, Meng Wei, spokesperson for the National Development and Reform Commission (NDRC), said Wednesday at a press conference.

Meng said the NDRC is assessing the effect of the negative list for market access in the past a few years, trying to figure out the demands of local governments and foreign-funded enterprises in expanding foreign capital market access, and researching policies and measures to further expand opening up.

“China has always been a country of action in terms of pushing ahead high-level opening-up and utilizing foreign capital,” she said.

The spokesperson noted that many senior executives from multinational corporations have come to China recently and that local governments have spent more efforts on attracting foreign investment.

“On the basis of last year’s large amount, China’s utilization of foreign capital continues to grow, especially in high-tech industries, which fully shows that China remains one of the most attractive destinations for foreign investment,” she said.

The latest policies will be implemented, enabling more foreign investment in key fields such as advanced manufacturing, modern service industry, high technology, energy conservation and environmental protection, and in key areas such as central and west China and northeast China, she added.