More sectors opened to foreign investment

China has proposed cutting by more than half the number of sectors restricted or off limits to foreign investors.

After one month for soliciting opinions, the new guidelines will be submitted to the State Council and are expected to come into force by the end of the year, said Wang Dong, deputy director general of the Department of Foreign Capital and Overseas Investment under the National Development and Reform Commission.

The new draft, which is posted on the NDRC website, decreases the number of restricted sectors from 79 to 35.