BEIJING, Sept. 21 (Xinhua) -- China is expected to further cut items in the "negative list" for free trade zones (FTZ) and apply the management model nationwide since October 1.
Shen Danyang, spokesman of the Ministry of Commerce (MOC), noted on September 20 that items in the "negative list" for FTZs have already been cut from 190 to 122 and will see further decrease. The compacted 'negative list' will be unveiled soon.
China initiated the "negative list" approach in the Shanghai FTZ. In 2014, it has been cut from 190 items to 139. In 2015, the list has witnessed further shrinkage to 122 items and been applied to the FTZs in Shanghai, Guangdong, Tianjin and Fujian at the same time.
Huo Jianguo, former president of the Chinese Academy of International Trade and Economic Cooperation affiliated to the MOC, noted that the further shrinkage of negative list manifests China's opening up degree and also coincides with negotiations on a China-U.S. bilateral investment treaty (BIT).
The "negative list" approach in managing foreign investment will be applied to the nationwide since October.
China's top legislature has revised four laws regulating inbound investment, with an easing of rules for foreign and Taiwanese investors looking to start businesses across China. All the revisions will take effect on October, simultaneously with the application of "negative list" model. (Edited by Zhang Yuan, zhangyuan11@xinhua.org)
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