Provinces map out paths to open up service sector

Local governments are setting ambitious targets on further opening up the service industry to foreign capital, as provincial-level authorities implement newly revised national guidelines.

More than 10 places, including Hubei, Jiangsu, Fujian, Zhejiang and Sichuan provinces and Shanghai, recently promulgated specific policies to encourage foreign investment in a wide range of sectors such as financial service, telecommunication, and internet sectors.

Local governments' latest endeavors are consistent with the national goal set forth in the revised foreign investment catalog released by the National Development and Reform Commission and the Ministry of Commerce.