Beijing - China is reforming key industries to allow for greater foreign investment, according to state media. Xinhua reported the National Development and Reform Commission of the People’s Republic of China said Sunday sectors including oil exploration and mining are to be deregulated for more foreign capital inflows. In its new “special management measures” addressing foreign investment, Beijing’s reform commission said the number of foreign investment-related restrictions will decrease from 48 to 40 items. For foreign investment into free trade “experimental” zones, China has decreased the number of restrictions from 45 to 37 items, according to Xinhua. China refers to these restrictions as the “list of negatives.” The list explicitly states specific bans in industries that are otherwise allowed to receive foreign capital inflows.
Significant changes include a state decision to eliminate all foreign investment restrictions that previously applied to Chinese shipbuilding companies and to Chinese utilities serving cities with populations of 500,000 or greater.
Beijing is also lifting restrictions against foreign investment into call center services, the development of wildlife resources, oil and gas exploration, and the development of molybdenum, tin and other natural resources.