China’s foreign investment negative list, currently adopted in the Pilot Free Trade Zones, will be adopted nationwide as early as 2018.
The negative list model states the sectors and businesses that are off limits to foreign investment. It is intended to further enhance openness, transparency and the overall regulation of the investment environment.
The measure China will allow foreign capital in sectors including new-energy vehicle manufacturing, ship design, aircraft maintenance, railway passenger transport, gas stations, business premises offering internet access, call centers, performance brokerage agencies, banking, securities and insurance.
Among a number of additional measures announced were improvements to the system for recruiting overseas personnel, particularly in the case of senior staff, and a facility for the outward remittance (in either renminbi or in a designated overseas currency) of profits, dividends and any other income due to foreign investors in accordance with the prevailing legal requirements.