Shenzhen plans to allow foreign investors access to about 20 categories of trade one or two years earlier than stated in China’s commitments to the World Trade Organisation, South China Morning Post said. The sectors include wholesaling, retailing and certain types of foreign trading. The announcement was made by Ye Minghui, director-general of the Shenzhen Bureau of Foreign Trade and Economic Co-operation. The city plans this year or next to approve a limited number of companies to form foreign-controlled companies in each category of trade marked out for earlier liberalisation.
The newspaper added that Beijing, Tianjin, Shanghai and Dalian have all unveiled similar plans, but the central government has not yet approved any of them.