China to further ease foreign investment restrictions

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China has intensified efforts to implement policies designed to ease foreign investment restrictions and improve the business environment, Xinhua-run Economic Information Daily reported Thursday.

Authorities have started to clear up restrictive regulations on foreign investment that go beyond the official negative list, the newspaper reported.

Gao Feng, a spokesperson for the Ministry of Commerce (MOFCOM), said the ministry will work with other departments to go through relevant regulations in various sectors and finish their revision or abolition by the end of 2019.

By the end of March 2019, China will lift all barriers to foreign investments not included on the negative list and launch a special inspection to ensure foreign investors are treated fairly in the process of government procurement, financial support and qualification, MOFCOM official Tang Wenhong told a press conference earlier in November.

To improve investment and the business environment, provide legal protection for foreign investors and further facilitate opening-up, the country will speed up the unification of regulations on domestic and foreign investment, Tang said.

By the end of this year, provincial authorities will establish and improve mechanisms to handle complaints from foreign businesses, the newspaper said.

Source(s): Xinhua News Agency