Guangdong to relax foreign investment rules

Foreign investors will be allowed to establish solely foreign-owned enterprises in a number of key industries in South China's Guangdong province, according to the local commerce authority.

The industries include manufacturing of special-purpose and new-energy vehicles, design, manufacturing and maintenance of ships, aircraft, helicopters weighing 3 metric tons and above, unmanned planes and aerostats, construction and operation of gas stations, international marine shipping and carriage of passengers by railway, Guangdong Provincial Commerce Department said at a news conference.

"The move is to continue to open up the investment environment in Guangdong, and optimize the industrial structure under the new economic situation," said Chen Yuehua, deputy director of the Guangdong provincial commercial department.