Proposal calls for lifting some foreign investment restrictions, adding others

The National Development and Reform Commission has proposed lifting some restrictions on foreign investment in China, reducing the number of sectors in which foreign companies are limited to minority stakes or are required to form joint ventures in from 79 to 35, The Financial Times reported, citing a proposal released for public consultation. However, several sectors removed from the list will remain restricted to foreign companies because of separate regulations and most of the newly opened industries are small and specialized or are already dominated by highly competitive Chinese companies. Meanwhile, a separate list of industries in which foreign investment is completely banned will be expanded.