China to ease restrictions on foreign investment in manufacturing sector

China will lift restrictions on foreign investment in the manufacturing sector with the release of the 2024 version of its negative list for foreign investment access, according to the National Development and Reform Commission (NDRC) and the Ministry of Commerce (MOC) joint announcement on Sunday.

The 2024 list, set to take effect on November 1, will reduce the number of restrictions from 31 to 29, fully eliminating limits on the manufacturing sector. This move represents a major step toward creating a more advanced and open economic system.

An official from the NDRC noted that the implementation of the updated list plays a key role in building a higher-level open economy. The NDRC, alongside the MOC and other government bodies, will actively enforce pre-establishment national treatment and the new negative list for foreign investment access, while ensuring the timely introduction of new opening measures.

Attribution: Xinhua

Subediting: Y.Yasser