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Chinese Premier Li Keqiang presided over the executive meeting of the State Council on Wednesday, which decided to clean up and remove the restrictions not included in the negative list of foreign investment access. All restrictions on the business scope of foreign banks, securities companies and fund management companies in China will be eliminated. We will expand the scope of the pilot reform to facilitate the payment of income from capital projects, and support foreign-funded enterprises to choose the mode of borrowing foreign debt on their own.
China Central Television (CCTV) quoted the meeting as saying that it is not allowed to force or disguise the transfer of technology by foreign-funded enterprises. We will support local governments to increase investment attraction and give priority to the establishment of a number of comprehensive bonded areas in the central and western regions. Government procurement shall not limit the form of supplier ownership, investor country, product or service brand, etc.

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