Double down on opening-up

The official statement, released on Monday, saying a negative list will be applied across the country in 2018, is a loud call for not only deepening reform at home but also welcoming foreign investors even as China itself is emerging as an important investor around the world.

The negative list, by identifying sectors and businesses that are off-limits for investment, will make it clear that the market will play a bigger role in allocating resources in the rest of the sectors, creating a law-based business environment and making the market more open.

This approach, piloted in the Shanghai (China) Free Trade Zone in 2013, can significantly reduce government intervention and give more freedom to the market.