China will step up efforts to ease market restrictions over foreign investment, with measures to open up more sectors and guarantee equal treatment, according to a press conference on November 9. Tang Wenhong, an official with the Ministry of Commerce (MOFCOM), said MOFCOM will make specific arrangements and set a clear agenda to push forward the implementation of policies designed to improve the business environment and encourage foreign investment. By the end of March 2019, the government will eliminate all limits that go beyond the official negative list for foreign investment and a special inspection will be launched to ensure all foreign-funded firms are treated equally in areas including government procurement, subsidies and licenses. By the end of 2018, provincial authorities will establish and improve mechanisms to handle complaints from foreign businesses. China will scrap all laws, rules and normative documents that go against the current opening-up policy by the end of 2019, Tang said. China has also unveiled a string of policies to improve the business environment, including building a level playing field, strengthening intellectual property protection and reducing business operation burdens.

Source: Ecns.cn