Beijing to expand opportunities for foreign investment

Almaty. December 26. Silkroadnews - Beijing will expand opportunities for foreign investment, Xinhua news agency reports.
“China’s cabinet has ordered temporary adjustment of state regulations in Beijing as the country’s capital opens its service sector wider to foreign investment,” the report said.
The move came after the central government approved a pilot program in June that facilitates market access for foreign investment in Beijing in such areas as science and technology, culture and education, financial services, business and travel, and medical services.
The State Council document says that the authorities will adjust the rules on administrative approvals and market access, including entertainment, banks financed from abroad and foreign investment in civil aviation in Beijing.
According to the updated rules, foreign investors will be allowed to create firms, providing jobs, with no ownership restrictions. Foreign investments will also be allowed in air transport service sales agencies.
The Central Economic Work Conference, which will conclude on Wednesday, China will insist on the nationwide implementation of a system of updated rules, as well as a change in the list determining areas where foreign participation is prohibited or restricted.
Reportedly, the list will be shorter, while laws and regulations on foreign investment will be simplified, and protection of intellectual property rights will be strengthened.