The State Council, China's cabinet, has approved plans to expand the opening-up of the services sector in four regions as the country develops new systems for a higher-standard open economy.
According to an approval statement released on Tuesday, the Tianjin, Shanghai and Chongqing municipalities, together with the southern island province of Hainan, can proceed with their comprehensive opening-up trials in the services sector in the next three years.
Local authorities are urged to serve major national strategies and carry out differentiated explorations under the premise of secured risk control, with the goal of creating replicable practices in the development of a modern industrial system as well as a higher-level open economy.
China aims to open its services sector in a well-regulated manner, launch more comprehensive trials related to its opening, and formulate a negative list for cross-border trade in services, according to a government work report.
