China will lift restrictions on foreign investment

China has announced the lifting of restrictions on foreign investment in certain sectors, a new opening gesture when the Asian country is preparing for a possible trade war with the United States.

This flexibilization, which will come into force on July 28, will be carried out in particular in the automotive industry, agriculture, infrastructure and mining, announced Thursday the economic planning agency of China (NDRC)

The agency has issued a "negative list" that investigates sectors to which foreign investors do not have access. freely. They will rise from 63 to 48. Some sensitive areas such as culture and national security will continue to be protected.

The announcement comes after several flexibilization measures to date in 2018, seen as signs of goodwill with regard to the United States. and other Western countries that regularly accuse Beijing of impeding the access of their companies to the Chinese market.

China, for example, announced in April that foreign companies would be able to control up to 51% of companies in brokerage, asset management, contract business term or life insurance, and promised to eliminate this limit "in three years."

The new "negative list" removes the limits on the properties of service stations, grain trade and infrastructure in the electricity sector. It also eases restrictions on the automobile, aeronautics and shipbuilding industries.

The announcement comes when China and the United States, the world's largest economies, could impose tariffs on tens of billions of dollars worth of goods next week. imported from the other country, fueling fears of a devastating trade war.

In Washington, members of the administration of President Donald Trump also study the possibility of limiting Chinese investment in the United States, and even the number of Chinese in American universities

China repeats for several weeks that she does not want a trade war, but that she promises to react proportionately in case of US attack.

The Chinese authorities on Thursday issued a "white paper" in which to defend the reforms undertaken by Asian countries since joining the World Trade Organization (WTO) in 2001.

"China has made all the promises made at the time of its accession, "said Wang Shouwen, Deputy Minister of Commerce at the presentation of the report, inviting countries that do not agree" to file WTO cases .