What's in store as China opens up further to foreign investors?
The State Council of the People's Republic of China (PRC) has issued new guidelines to create a more "fair, transparent and predictable" business environment for foreign investors. The guidelines include 20 policies covering four aspects, including deepening the process of opening-up and facilitating investment.
Per the guidelines, China will continue to shorten its negative list, accelerate the opening-up of the financial sector, and optimize foreign investment policies for the automobile industry. Moreover, China will optimize scientific and technological innovation services in a bid to promote investment. China will also lower the cost of cross-border capital use and leverage the role of judicial protection of intellectual property rights.
How will China's plan to scrap ownership limits for foreign investors in the financial sector in 2020 impact its domestic market? Chen Jiahe, chief strategist at Cinda Securities, shares insights with CGTN's Global Watch.