China tests 'negative list' approach in four regions
Updated: 2016-04-09 09:45
(Xinhua)
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The name plate of the China (Shanghai) Pilot Free Trade Zone on a gate of the Waigaoqiao free trade zone in Shanghai. [ZHAO YUN / FOR CHINA DAILY] |
China's top economic planner, the National Development and Reform Commission, said it has handed out the draft plan on the approach to the above-mentioned four areas, which specified 96 items that are off-limits and 233 items that are restricted for investment.
The pilot is a major step towards government aim to explore a system that could be replicated nationwide for application in 2018 as part of efforts to streamline government administration and give more freedom to the market.
The "negative list" approach is a common practice adopted in many countries to manage foreign investment. China first piloted the rules in the Shanghai Free Trade Zone in 2013.
By extending the approach to cover domestic businesses, China looks to reduce the threshold for investment and business start-ups to bring out the potential of various market entities as the economy slows.
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The opinions of the State Council on implementing the negative list system for market access 2015-11-13 09:27
Negative list for foreign investment expanded to inland regions 2015-10-31 09:40
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