G20: China promises further opening to foreign investment

At the G-20 Leaders Summit in Osaka, Japan, Chinese president Xi Jinping proposed several measures to further open his country’s market.

According to the state-owned People’s Daily, China will: Release an updated negative list for 2019, which will further open up the agriculture, mining, manufacturing and service sectors. Six new free trade pilot zones will be established, including a new zone in Shanghai. Further lower tariffs and strive to remove nontariff trade barriers. Enact a Foreign Investment Law at the beginning of 2020 that will introduce a penalty system for IP infringement.
Remove all restrictions for sectors not included on the negative list for foreign investment. Make regional partnership agreements, accelerate the negotiation of the China-EU investment agreement and the China-Japan-South Korea free trade pact.