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China to phase out share-holding limits for foreign investors in manufacturing sectors
CRRC employees operate an assembly line of the company in Qingdao, Shandong province. [Photo by Zhang Jingang/For China Daily]
BEIJING - China will scrap share-holding limits in the automobile, shipbuilding and airplane manufacturing sectors for foreign investors, the top economic planner said Tuesday.
Share-holding limits for special-purpose vehicles and new energy vehicles will be scrapped for foreign investors in 2018, while those for commercial vehicles and passenger vehicles will be lifted in 2020 and 2022 respectively, said the National Development and Reform Commission (NDRC).
The limits will be lifted this year on shipbuilding processes including design, manufacturing and repair, and on production of airplanes including trunk and regional airliners, general-purpose airplanes, helicopters, drones and aerostats, according to the NDRC.
A new negative list for foreign investors will be published as early as possible in the first half of this year.
The opening of the manufacturing industry will be an important part of the new negative list, it said.
The new list will unveil a series of new opening-up measures in fields including energy, resources, infrastructure, transportation, commercial circulation and professional services.
New opening-up measures for this year and for the years to come will be included in the new negative list.
China aims to fully open up its manufacturing industry, according to the NDRC.
By guiding its manufacturing industry toward a full opening-up, China has demonstrated its stance to fight against trade and investment protectionism and its support for the extensive and in-depth development of economic globalization, said the NDRC.
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