Starting from July 28, a series of restrictions on foreign investment in banking, securities, automobile manufacturing, power grid construction, railway trunk line construction, and chain gas station construction will be cancelled. The National Development and Reform Commission and the Ministry of Commerce issued a 2018 version of the negative list of foreign investment access on the 28th, and launched a new round of opening measures in 22 areas.
The Special Management Measures for Foreign Investment Access (Negative List) (2018 Edition) is a revision of the Negative List of Foreign Investment Admissions in the Foreign Investment Industrial Guidance Catalogue (Revised 2017) and is published separately. The length of the 2018 negative list has been reduced from 63 to 48, and a series of major opening measures have been introduced:
Significantly expand the service industry to open -
In the financial sector, the ratio of foreign shares in the banking sector was abolished, and the ratio of foreign shares of securities companies, fund management companies, futures companies and life insurance companies was relaxed to 51%. In 2021, all foreign capital ratios in the financial sector were lifted.
In the field of infrastructure, the railway dry line network and the grid foreign investment restrictions are abolished.
In the transportation sector, the restrictions on foreign investment in railway passenger transport companies, international maritime transport, and international shipping agents are eliminated.
In the field of trade and commerce, the restrictions on foreign investment in gas stations and grain purchases and wholesales were eliminated.
In the cultural field, the ban on investing in Internet access service business premises is lifted.
Basically liberalize manufacturing -
The auto industry canceled the restrictions on foreign-funded shares of special-purpose vehicles and new-energy vehicles. In 2020, the restrictions on foreign-funded shares of commercial vehicles were lifted. In 2022, the restrictions on the foreign-invested shares of passenger vehicles and the restrictions of no more than two joint ventures were eliminated.
The shipbuilding industry has eliminated foreign investment restrictions, including design, manufacturing and repair.
The aircraft industry has eliminated foreign investment restrictions, including trunk aircraft, regional aircraft, general aircraft, helicopters, drones, and aerostats.
Relaxation of access to agriculture and energy resources -
In the agricultural sector, foreign investment restrictions on the production of crop seeds other than wheat and corn were eliminated.
In the energy sector, the restrictions on foreign investment in special scarce coal mining are eliminated.
In the field of resources, the elimination of graphite mining, rare earth smelting and separation, and tungsten smelting foreign investment restrictions.
The relevant person in charge of the National Development and Reform Commission said that on the occasion of the 40th anniversary of reform and opening up, the release of the negative list of the 2018 edition is to substantially relax market access, promote high-level openness, and further improve the pre-entry national treatment plus negative list management system. Major initiatives. The new round of opening up will inject new impetus into the expansion of attracting foreign investment, promoting market competition and enhancing innovation. It will help promote the formation of a new pattern of comprehensive openness and support the in-depth development of economic globalization.
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