LINE

Text:AAAPrint
Business

China unwavering in opening up service sector: official

1
2018-03-26 00:25:33Xinhua Wang Fan ECNS App Download

China will remain unwavering in opening up its service sector with more measures in the pipeline despite continued trade deficits, an official said Sunday.

Vice Minister of Commerce Wang Shouwen said the country will widen market access in finance, telecom, heath care, education and old-age care for foreign investors, and will ease restrictions on foreign holdings in financial businesses including banks, brokerages and funds.

"We will unveil timetables and roadmaps to open up sectors including finance, new energy vehicles and gas stations," Wang said while addressing the China Development Forum in Beijing.

The commitment to opening-up was in contrast with the country's deficit of 255.4 billion U.S. dollars in service trade last year.

"We have as always supported free, fair trade," Wang said.

China has opened 120 industries related to service trade for foreign investors, surpassing the goal of 100 industries set when China joined the World Trade Organization nearly two decades ago.

In free trade zones, the government has fully liberalized many sectors closely watched by foreign investors, including credit ratings, accounting, e-commerce, power batteries and railway traffic equipment, Wang said.

China has also cut red tape in foreign investment with many approval procedures simplified or scrapped, and more favorable policies could be expected, according to the vice minister.

"We will soon promote pre-establishment national treatment and a negative list for foreign businesses nationwide," Wang said.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.