China will adopt a nationwide “negative list,” which identifies industries that are closed to overseas investors, on Oct. 1, following a three-year pilot project in the Shanghai Free Trade Zone, Caixin reports. Currently, local governments can prevent or limit investments in sectors that have not been specifically cleared. The list aims to relax restrictions for foreign investors and make the rules more transparent, the State Council, China’s cabinet, said on Monday. Companies who want to tap sectors outside the list no longer need government approval before investing, the statement said. Instead, they need only to submit a detailed plan and register with the Ministry of Commerce. The negative list includes 18 industries such as fisheries and the domestic courier business. Other areas barred include rare metals and military arms.