Shenzhen has been granted permission by the central government to open market access to foreign investors in service sectors at a rate faster than was agreed under China’s accession to the World Trade Organisation.
The 20 sectors to be opened include financial services, securities, ports, hospitals, procurement centres, tourism and logistics, according to a report in the Financial Times. In several cases, foreign companies would be allowed to take full or majority ownership of business operations one or two years earlier than is required under the WTO agreement.