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China announced a new list to reduce or eliminate restrictions on foreign investment from 63 to 48, especially in the service sector, infrastructure, pbadenger rail, international shipping and wholesalers.
The amendments will come into effect on July 28 and will be published jointly by the National Development and Research Commission and the Ministry of Commerce.
In terms of infrastructure, restrictions on investments directed to the main network will be eliminated railways, pbadenger railways, international shipping and international shipping agencies.
China has confirmed the total elimination of absolute property limitations in sectors such as insurance and cars over the next three to five years. ] According to the laws of China, the manufacture of complete motor vehicles, special purpose vehicles and motorcycles, at least 50% of the shares, must belong to Chinese citizens
A foreign investor may constitute, at most , two joint venture capital in mainland China to manufacture the same categories. complete vehicles, ie categories of pbadenger cars, commercial vehicles or motorcycles.
China will also relax or remove restrictions on companies related to the manufacture of boats and aircraft, power lines, wholesale sales, service stations and crops, excluding wheat and maize
In the financial sector, the limit of foreign capital in the banking sector has been increased and the foreign capital limit of securities companies, fund management companies, futures companies and investment companies. Life insurance eased to 51 percent.
All restrictions on foreign capital in the financial sector will be eliminated by 2021.
China has repeatedly stated that it would pursue market reforms at its own pace, in pointing out that it would take and implement market opening decisions according to its own needs and
On August 18, 2017, the United States Trade Representation initiated an investigation under Article 301 against China, the first use of this resource since 2010. It is the most important commercial file launched
China White Paper
"Our tariff level is close to that of United States "
The Chinese government has pointed out that it applies import duties at a level close to that of the United States, data included in the white paper" China and the United States ". World Trade Organization ", published 1965 [19659002] "In 2015, the weighted average tariff for trade in China fell to 4.4%, quite around 2.4% of the United States and 3.0% of the European Union (EU) ", said Vice Minister of Commerce Wang Shouwen, who is also Deputy Representative of China's International Trade.
The paper emphasizes that, through these efforts, China has fulfilled its responsibility as an important country, in addition to strongly supporting the multilateral trading system and made a significant contribution to the world after its accession to the world. WTO. The book's release takes place while US President Donald Trump has strongly questioned China's allegations of unfair practices in trade and investment, as in intellectual property. The WTO supports the multilateral trading system that is open, transparent, inclusive and non-discriminatory, "the document says.
The White Paper explains China's principles, positions, policies and proposals regarding the system Multilateral Trade and Describes China's Vision and Actions to Move Forward with High-Level Reform and Openness
The document provides a wealth of data on what China has done to substantially reduce import rights, liberalize the right of commitments regarding trade in services and the protection of intellectual property rights.
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