China opens its markets to foreign investments
The Asian country broadens its economic and financial horizons, eliminating some barriers in spite of the unfavorable external environment
China’s economic environment is currently convulsed. Analysts consider it adverse; however, the Asian country announced it will “ease or withdraw restrictions on foreign investment in new sectors as of July 30, while Washington and Beijing decided to resume trade negotiations.”
According to Chinese government spokesmen, they have been working on a list of companies to open to foreign investment. There are companies banned and others that will receive all the local support.
The existing restrictions will be reduced or eliminated for the sectors of “maritime transport, heat pipes in the city, movie theaters, the entertainment industry, some telecommunications services, oil and gas exploration”.
This was announced by spokesmen of the Ministry of Commerce and the Economic Planning Agency (NDRC) of China. They also stressed that the aforementioned “negative” list of the vetoed and regulated industries for foreign investment will be reduced to 40 (currently there are 48).
This announcement by the Chinese government comes along to the G20 meeting in Osaka, where Chinese President Xi Jinping met with his US counterpart Donald Trump and agreed to resume trade negotiations.
M.Pino
Source: BancayNegocios
