I have the following observations on the latest version of Special Administrative Measures for the Access of Foreign Investment (Negative List) published this time:

First, more areas have been opened up. The national negative list introduced opening up measures in finance, infrastructure, transportation, culture, automobile, shipping, aircraft, agriculture, energy and resources, reducing restrictive measures by one-fourth. The negative list for FTZs is further conducting stress tests in opening up culture, resources, seed, telecommunications and other areas.

Second, the lists are more transparent and well-regulated. The two negative lists outlined special administrative measures, such as requirements for equity and senior management. As for areas beyond the negative lists, the localities and authorities should not impose restrictions on the access of foreign investment and should create a level-playing field for domestic and foreign investment.

Third, the lists have become more international. The national negative list has been separated from the Catalogue for the Guidance of Industries for Foreign Investment. It is consistent with the expression and style of the negative list for FTZs, making it easier for foreign investors to understand and compare.

Many of the areas being opened up under this negative list are being closely followed by foreign investors for a long time. For example, in manufacturing, the automobile sector will be opened up in phases; in services, foreign equity restrictions on the financial sector will be removed. We believe that the latest negative list will further arouse the enthusiasm of investors around the world to invest in China. We will also increase investment facilitation, improve business environment and implement opening up measures to keep foreign-invested companies an important force driving China’s economic growth and benefiting people of China and the world. Thank you.

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