China to open more sectors to foreign investment

China’s government has told ministries to open up more sections of the economy to foreign investors amid increasing criticism from the Trump administration about Beijing’s allegedly unfair trade practices. The move also comes as foreign firms operating in China have expressed increasing frustration over limited access to markets and government policies which they say discriminate against overseas companies, the South China Morning Post reports. China’s cabinet, the State Council, published a long to-do list to ministries on Wednesday to encourage more foreign investment. In one example, the central bank and foreign exchange regulator were told to ensure that “foreign investors can freely remit their profits, dividends and other forms of investment returns in China overseas.” US President Donald Trump authorized an inquiry earlier this week into China’s alleged theft of intellectual property rights from US businesses after regularly criticizing Beijing’s trade policies during his election campaign.