China to further ease foreign ownership restrictions: ministry

China will mull the feasibility of further removing or relaxing foreign ownership restrictions to draw more global investors, the Ministry of Commerce said on October 12.

While continuing to shorten its negative list for foreign investment, the country will strive to improve its business environment and better serve foreign companies, said ministry spokesperson He Yadong at a press conference.

The country has revised its negative list for foreign investment for five consecutive years, with barriers to foreign ownership reduced in sectors including seed, automobile, vessel and aircraft manufacturing, securities, banking, and insurance, the spokesperson said.

According to a report released last month by the Development Research Center of the State Council, China has maintained its position as the world’s second-largest recipient of foreign investment since 2017 and remains one of the most attractive investment destinations globally.

In 2022, China’s actual use of foreign direct investment (FDI) reached $189.1 billion, marking an 8 percent year-on-year increase on a comparable basis. The country’s share of global FDI rose from 8.2 percent in 2012 to 14.6 percent in 2022. (Beijing Review)