China further eases foreign investment curbs on manufacturing


June 30, 2019 / 11:29 AM / Updated 13 minutes ago

BEIJING (Reuters) – China’s state planning agency has reduced the number of sectors subject to foreign investment restrictions, as Beijing moved to fulfill its promise to open major industries.

The National Development and Reform Commission (NDRC) on Saturday further eased foreign investment curbs on sectors including petroleum and gas exploration and widened access to agriculture, mining and manufacturing.

NDRC published on its website the new, shorter so-called negative list that sets out industries where foreign investment is limited or prohibited.

The number of items on the negative list was cut to 40 from 48 in the previous version, which was published in June last year. The new list takes effect on July 30.

The long-anticipated announcement comes after Presidents Donald Trump and Xi Jinping met in Japan, rekindling hope of a deal after negotiations broke down last month.

Reporting by Yilei Sun and Norihiko Shirouzu; Writing by Yawen Chen in Beijing; Editing by Sam Holmes

Source: Reuters “China further eases foreign investment curbs on manufacturing”

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