3rd September 2018
On 28 June 2018, the National Development and Reform Commission (NDRC) and Ministry of Commerce (MOFCOM) in China jointly announced the release of Special Administrative Measures for Foreign Investment Access. The new negative list widens market access for foreign investors in 22 industries. MSI's Chinese member firm Lehman Brown Limited provides an analysis of China's new "Negative List".
On June 28 2018, the National Development and Reform Commission (NDRC) and Ministry of Commerce (MOFCOM) jointly announced the release of Special Administrative Measures for Foreign Investment Access (the “nationwide negative list”), which serves as an amendment to the negative list in the Catalogue for the Guidance of Foreign Investment Industries (Revised in 2017) and entered into force from July 28, 2018. The new negative list widens market access for foreign investors in 22 industries, with the number of items included on the list being reduced from 63 to 48. Meanwhile, the Guidance of Foreign Investment Industries is encouraged to carry on.
The negative list of the 2018 edition has been greatly simplified and the process of opening up is being accelerated in many sectors. The liberalization of the service sector, especially the financial sector including banking, securities and insurance, has been greatly boosted. The manufacturing industry has been open to the external investors in all aspects, and the restrictions on the automobile industry have been greatly reduced. Access to agriculture and energy resources has also been relaxed. This revision is aimed at further opening up to external capital and to cultivate a more advantageous business environment for foreign investment.
View the full article on China’s Negative List here (download pdf)
LehmanBrown International Accountants is a China-focused accounting, taxation and business advisory firm, operating in Beijing, Shanghai and Shenzhen.
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