China eases foreign investment rules as trade war threatens

China has announced areas of the economy where it will facilitate foreign investment rules, with leaders stepping up their efforts to portray the country as an opening in anticipation of a possible trade war with United States. The new "negative lists" key reforms in the financial sector while removing restrictions in areas such as the automotive industry, agriculture, infrastructure and mining.

The list published by the National Commission for Development and Reform (NDRC) will reduce the number of, from 63 last year. But he also notes that some sensitive areas such as culture and national security will continue to be protected. This announcement comes after the government unveiled changes earlier this year, considered a nod to the United States and other Western countries who complain about lack of access to the world's second largest economy since years.

foreign shareholding ceilings for banks and allowing 51% control in other financial areas for three years, after which the restrictions will be removed. However, critics say the policy comes with other limits that only make the largest foreign banks eligible for entry. The list also eliminates restrictions on the ownership of gas stations, grain trading and electrical infrastructure, while easing restrictions in the automotive, aerospace and transportation sectors. shipbuilding

. first batch of new border taxes on tens of billions of dollars worth of goods from both countries, fueling fears of a potentially damaging trade war. Confronted with external protectionism, China must "redouble efforts to promote openness, promote reforms, promote development, promote innovation through openness and promote the development of globalization." "the Commission said in a statement

. and other countries and regions will deepen further, with greater exchanges of capital, technology, management and talent. "Peking's rhetoric contrasts sharply with that of Washington, where officials have considered ways to limit Chinese investment and even the flow of some Chinese nationals to American universities."

Beijing wanted to portray itself as the injured party, claiming repeatedly does not want a trade war but will fight back with equal force when he is forced into a corner.The authorities also issued a white paper yesterday fully defending its promises of reforms and promises since its accession to the World Trade Organization in 2001. "China has always kept all its promises when joining the WTO," said Wang Shouwen said during the presentation of the report and challenged the countries that do not agree to "prosecute us in the WTO".