China has updated its market access negative list, reducing the number of sectors that restrict or prohibit investment or operation by private firms, the country’s top economic planner announced on Thursday.
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The latest list released by the National Development and Reform Commission (NDRC) features 106 restricted areas, down from 117 in the previous version issued in 2022, heralding a further liberalisation of the business environment for private enterprises.
Which industries have been removed or added?
A number of national-level restrictions have been eliminated. For example, special approval is no longer needed before starting a seal engraving business, or selling specialised computer information system security products.
Several areas have been partially liberalised nationwide, with entry procedures streamlined. They include television production, pharmaceutical sales, the importation of forest tree seeds, and medical institutions’ use of radioactive drugs.
Meanwhile, a range of local-level restrictions have been abolished in sectors where protectionism is deeply entrenched, including transport and logistics, freight forwarding, vehicle rental services, and the recycling of industrial scrap metal.
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The latest list also includes some sectors that have emerged recently, strengthening regulatory oversight in fields such as the operation of auto-driving aircraft and the sale of novel tobacco products – including e-cigarettes.
It also prohibits non-financial institutions from using the term “futures company” in their operations.
