China to further open up FTZs to foreign investment
The government is relaxing restrictions on the proportion of foreign ownership in shipping, aircraft manufacturing and rail transportation
The State Council has decided to make temporary adjustments to certain regulations in the 11 Free Trade Zones (FTZ) nationwide, aiming to further open up the scope for foreign investment, the Economic Information Daily reported.
The government relaxed 16 regulations in the area of transportation, services and other sectors.
In the transportation sector, for example, the government has relaxed restrictions on the proportion of foreign ownership in shipping, aircraft manufacturing and maintenance, and also rail transportation.
The construction and operation of gas stations, which have always been limited to foreign investment, are now open to foreign investors for full ownership in the FTZ.
Meanwhile, foreign investors will for the first time be allowed to set up wholly-owned performance agencies in the FTZ to provide entertainment services.