{"id":47573,"date":"2024-10-14T00:00:00","date_gmt":"2024-10-14T00:00:00","guid":{"rendered":"https:\/\/asiallians.com\/?p=47573"},"modified":"2024-10-15T10:26:46","modified_gmt":"2024-10-15T10:26:46","slug":"october-15th-2024-china-news","status":"publish","type":"post","link":"https:\/\/asiallians.com\/zh-hant\/october-15th-2024-china-news\/","title":{"rendered":"China Legal Update – October 15th 2024, China News"},"content":{"rendered":"

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China\u2019s 2024 Revised Negative List for Foreign Investment to take effect on November 1st, 2024<\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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On September 8, 2024, China took a significant step towards further opening its economy to foreign investors with the release of the 2024 edition of the Special Administrative Measures (Negative List) for Foreign Investment Market Access<\/strong><\/em><\/a> (in Chinese, \u201c\u300a\u5916\u5546\u6295\u8cc7\u51c6\u5165\u7279\u5225\u7ba1\u7406\u63aa\u65bd(\u8ca0\u9762\u6e05\u55ae)(2024 \u5e74\u7248)\u300b\u201d, \u201c2024 Negative List\u201d) by the National Development and Reform Commission (\u201cNDRC\u201d) and the Ministry of Commerce(\u201cMOFCOM\u201d). This new list, which will officially come into effect on November 1, 2024, sees a reduction in the number of restrictions from 31 to 29, with a complete lifting of restrictive measures in the manufacturing sector.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Background<\/strong><\/p>\n

The Negative List is a catalog that specifies the industries and sectors where foreign investment is either restricted or prohibited in China. It is part of China\u2019s regulatory framework to manage foreign direct investment (\u201cFDI\u201d). The Negative List reflects the country\u2019s willingness to open its market while maintaining control over strategic sectors.<\/p>\n

The Negative List was officially promulgated on June 28, 2018, and has undergone several revisions since then, including updates in 2019, 2020, 2021, and 2024. With each revision, the list has scaled down the special restrictive measures from 48 to 29, indicating China\u2019s commitment to continuously opening its markets to foreign investors.<\/p>\n

Special requirements and approval procedures are required where foreign- invested enterprises intend to conduct business in certain sectors. For instance, the proportion of foreign investors in a foreign-invested telecommunications enterprise operating value-added telecommunications services shall ultimately not exceed 50 percent. Such establishment shall be approved by the MIIT(\u201cMinistry of Industry and Information Technology\u201d) and the NDRC if the investment project falls within the scope of projects with special requirements. Therefore, when applying for a license to operate value-added telecommunications business, a foreign-invested enterprise needs to ensure that the proportion of its foreign capital does not exceed this limit.<\/p>\n

See below procedure for establishment of foreign-invested enterprises for certain sectors.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Procedure for establishment of foreign-invested enterprises for certain sectors<\/strong><\/p>\n

In certain sectors such as value-added telecommunications services, additional steps are needed to establish a company:<\/p>\n