China to reduce restrictions on foreign investment: Xinhua

0
16
© Reuters. FILE PHOTO: The skyscrapers of the Central Business District rise behind the capital's embassy neighbourhood in Beijing© Reuters. FILE PHOTO: The skyscrapers of the Central Business District rise behind the capital’s embassy neighbourhood in

SHANGHAI (Reuters) – China will reduce restrictions on foreign investment and address difficulties facing foreign companies investing in the country, the commerce minister said, according to a report by the official Xinhua news agency on Saturday.

Commerce Minister Zhong Shan said China would allow full foreign ownership of companies in more areas of the economy and would reduce the number of industries in which foreign investment was restricted or barred, Xinhua reported.

He said the Commerce Ministry would push for a foreign investment law, improve the handling of complaints from foreign firms, and encourage foreign investment in manufacturing and high tech. The ministry would also encourage foreigners to invest in central and western China, he said.

China has been pushing to broaden opportunities for private firms and foreign to stimulate an economy that is slowing on the back of weakening domestic demand and a trade war with the United States.

Article continues below Advertisement...

Zhong said “properly handling” trade frictions with the United States was a major task for the ministry in 2019. The report did not elaborate.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, is one of the riskiest investment forms possible.

Source: Investing.com