China to update negative list for foreign investment

BEIJING -- A shorter negative list for foreign investment will be released in the first half of the year to expand market access for foreign investors, a commerce official said Monday.

Vice Minister of Commerce Wang Shouwen, also deputy China International Trade Representative, told a press conference that the ministry was collaborating with relevant departments to further trim the negative list and optimize investment environment for foreign-funded companies.

As the Foreign Investment Law approved by the national legislature will take effect starting from Jan. 1, 2020, the ministry is mulling supporting regulations and feasible rules to foster a stable, transparent, predictable and level playing market environment, Wang said.

He said efforts will be made to ensure the protection of the rights and interests of foreign intellectual property owners, to ban forced technical transfer and to enhance trade secrets protection.

In addition, the ministry will also optimize the existing mechanism so that the complaints of foreign-invested firms could be timely and better handled.

Wang said that the ministry is considering making an industrial catalog to encourage foreign investment and advance large projects.