Nationwide negative list to spur foreign investment, says China
BEIJING - China is to roll out a negative list for foreign investment which has been tested in pilot free-trade zones, the State newsagency, Xinhua, reported. It said the negative list model, which states the sectors and businesses that are off limits to foreign investment, will be adopted nationwide as early as 2018.
"Introduction of the negative list is a creative approach at home and abroad. It lays an important foundation for the market to play a decisive role in resource allocation," said Xu Shanchang of China’s National Development and Reform Commission.
The approach had an initial test run in Shanghai, Tianjin, Guangdong and Fujian before expanding to other centres, including Zhejiang and Hubei, for further testing. "It is rather important to be prepared before making it a nationwide practice," Xu said. www.webershandwick.cn (ATI).