China’s National Development and Reform Commission (NDRC) has flagged further opening of key sectors of the economy in 2019.
Ning Jizhe (宁吉喆), NDRC vice-chair, said that in 2019 China will “uphold the concept of open development, uphold the basic state policy of external opening, and comprehensively implement an administrative system of ‘equal treatment with citizens prior to entry + the negative list,’ while at the same time driving positive encouragement and equal treatment with citizens following entry, in order to provide a better commercial environment for foreign capital.”
Ning made the remarks at a press conference held on 6 March as part of the 2019 Two Sessions meeting of China’s top legislative bodies.
According to Ning the agriculture, mining and services sectors will be subject to further opening measures this year, with foreign capital permitted to engage in shoe investment and operation in a greater number of areas.
The foreign investment negative list is also on track for further reduction in 2019.
Ning said that Beijing will issue a new and expanded catalogue of project where foreign investment is encouraged, with these projects continuing to enjoy tariff exemptions for imported equipment, and preferential policies for use of industrial land.
According to Ning the Chinese government will also push for equal treatment for foreign investors when it comes to government procurements, benchmark standards, industrial policy, qualification approvals and equity financing.