Shanghai FTZ acts to open up services sector
October 10, 2018
THE China (Shanghai) Pilot Free Trade Zone yesterday for the first time released a negative list for the services sector, a major institutional innovation to further liberalize market access for foreign participation in areas such as transportation, insurance and communication.
The move means overseas services and service providers investing in areas not listed will now be treated the same as domestic companies, reducing red tape and other restrictions.
Special regulations governing investment by foreign entities, such as requiring a Chinese joint venture partner, will continue to apply to those sectors on the negative list.