China’s Ministry of Commerce published a negative list Monday for the cross-border services trade in the island province of Hainan that promises to put foreign firms and individuals on equal footing with domestic peers, provided their businesses don’t violate 70 restrictions in 11 industries, reported Caixin.
The negative list for the Hainan Free Trade Port includes industries such as transportation, information technology, and finance. In areas outside the scope of the list, however, all service providers, be they Chinese or foreign, will be entitled to “equal treatment and market access,” Wang Shouwen, a vice commerce minister, said at a Monday briefing.
Once the list takes effect on Aug. 26, overseas businesses and individuals will be allowed to provide a range of services or work in capacities previously restricted by the government.
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