China promises to improve market access for foreign investment through a law

China promises to improve market access for foreign investment through a law

Source: Expansión
13/01/2019

Chinese Trade Minister Zhong Shan says the country remains committed to economic opening and will continue to expand access to the foreign investment market to improve the business environment. He promised to push the foreign investment law, reduce the number of industries in which foreign investment was restricted or banned and allow wholly foreign-owned companies in more sectors.

The Beijing government will also continue to encourage foreign investment in manufacturing and high-technology industries, saying the authorities will help foreign companies face the difficulties of investing in China. “The Chinese market has great potential and strong prospects,” he stressed.

According to data provided by the minister, foreign direct investment (FDI) increased last year by 3% to reach 135,000 million Dollars (about 118,000 million Euros), a figure that contrasts with the growth of 7,9% registered in 2017.