Current location:Cultural Current news portal > world
China to relax foreign investment rules amid further opening up
Cultural Current news portal2024-05-01 15:38:48【world】7People have gathered around
IntroductionAerial photo taken on April 19, 2017 shows the pilot free trade zone in Wuhan City, capital of centr
Aerial photo taken on April 19, 2017 shows the pilot free trade zone in Wuhan City, capital of central China's Hubei Province. (Xinhua/Xiong Qi)
China will relax rules for foreign investment, increasing its market appeal to global investors and signaling its determination to deepen opening up.
The country's Ministry of Commerce (MOC) has made public its plan for formulating regulations and laws in 2021, putting on agenda the revision of the guideline on foreign strategic investment in Chinese listed firms.
The revision seeks to "ease restrictions on foreign strategic investment, and introduce innovative supervision approaches for the sector," the MOC said in a recent online statement.
The move came as the guideline, which was issued 15 years ago, cannot satisfy the current demand of foreign investment attraction given the country's rapid development over the years.
Wang Jian, a professor at the University of International Business and Economics, said the revision was a signal to the world, indicating that China will continue its reform and opening-up policy, gradually loosen restrictions on foreign investment in listed firms, and foster a more enabling investment environment.
As the market is waiting for the upgraded guideline, a draft revision unveiled last June offered a glimpse of the upcoming rules.
The June draft lowered asset requirements for investments. It stipulated that foreign investors should either own at least 50 million U.S. dollars or manage no less than 300 million dollars of assets for market entry, compared with the current thresholds set at 100 million dollars and 500 million dollars, respectively.
It also reduced the lock-up period for foreign shareholders' stocks from three years to 12 months and removed shareholding limits of foreign strategic investment through listed firms' targeted placements.
Commenting on the lowered bar for foreign investment, Wang said it meant that apart from productive investment, China also welcomes foreign strategic investment in listed firms with open arms.
"The changes showed that China is gradually opening its equity market to the world, which is also conducive to the sound and healthy development of its stock market," Wang noted.
Opening up has been frequently brought up by China's policymakers over the years of its rapid economic growth. Despite a virus-induced economic slowdown across the world, the country's opening-up momentum remains unabated.
China has taken several major steps to open its door wider since last year: implementing the Foreign Investment Law, trimming the negative list for foreign investment and easing foreign access to the financial market.
In the country's new development blueprint, the 14th Five-Year Plan, it reiterates the commitment to promoting reform and opening up while pursuing high-quality development.
With a 4-percent growth in foreign direct investment (FDI) inflows last year, China stood out as the largest recipient of FDI in the world, according to a report from the United Nations Conference on Trade and Development.
In the first four months of 2021, FDI into the Chinese mainland, in actual use, surged by 38.6 percent year on year, MOC data showed.
Address of this article:http://bosniaandherzegovina.arandomquote.com/news-07e199940.html
Very good!(71838)
Related articles
- Missouri Supreme Court strikes down 2022 vote on Kansas City police funding
- Georgia governor signs bill into law restricting land sales to some Chinese citizens
- Judge dismisses lawsuit against Saudi Arabia over 2019 Navy station attack
- Whoopi Goldberg fights back tears as The View host defends 'mad' student protesters
- What's causing the catastrophic rainfall in Kenya?
- Kansas has new abortion laws while Louisiana may block exceptions to its ban
- Life sentence for gang member who turned northern Virginia into 'hunting ground'
- The Valley's Jesse Lally steps out with stunning new girlfriend Lacy Nicole
- Women can stand the cold BETTER than men, surprising study finds
- Campaign to build new California city submits signatures to get on November ballot
Popular articles
- EPHRAIM HARDCASTLE: French magazine uses AI photographs to predict the Royal Family's future
- Olympic refugee athlete Lohalith suspended in the team's 3rd doping case ahead of Paris Games
- Alabama lawmakers propose compromise on gambling bill with lottery, electronic wagering machines
- Apple launches new Beats headphones with 50
Recommended
Mexican officials regret US decision not to retry American rancher in fatal shooting of Mexican man
North Carolina bill compelling sheriffs to aid ICE advances as first major bill this year
Bayern stars Musiala, Sané fit enough to start against Real Madrid in Champions League
New York Knicks reserve Bojan Bogdanovic will have foot surgery and miss the rest of the playoffs
G7 nations commit to phasing out coal by 2035 but give Japan some flexibility
St. John's Chris Ledlum and Jordan Dingle suing NCAA for denying them 2024
Brad Stevens selected as NBA's executive of the year after Celtics' NBA
Court in the Central African Republic issues international arrest warrant for former president
Links
- Long Covid 'extremely debilitating' for teachers, union says
- NZ defence officials began pitching the benefits of joining AUKUS months ago
- One in five migratory species at risk of extinction
- New law to give police, courts greater powers in gang crackdown
- Convicted killer to leave prison, serve rest of sentence at home
- Bomb kills dozens day before Pakistan vote
- Kamala Harris blames Trump for abortion ban in Arizona
- Israel frees two hostages, Palestinian TV says 74 killed in assault
- In pictures: 2024 Rātana celebrations
- Man who died in Gisborne mass brawl was celebrating his birthday