Breaking News
0

China says will reduce foreign investment curbs, 2018 FDI rises 3 percent: commerce minister

EconomyJan 12, 2019 11:58PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: The skyscrapers of the Central Business District rise behind the capital's embassy neighbourhood in Beijing

SHANGHAI/BEIJING (Reuters) - China will reduce restrictions on foreign investment and address difficulties facing foreign companies investing in the country, the commerce minister said, according to a transcript of an interview he gave to state media.

Commerce Minister Zhong Shan said China would allow full foreign ownership of companies in more areas of the economy and would reduce the number of industries in which foreign investment was restricted or barred, according to the transcript posted on the Ministry of Commerce's website on Sunday.

The comments appeared to be largely reiterations of past pledges by Chinese officials for further market opening.

Foreign direct investment (FDI) into China rose by 3 percent year-on-year to $135 billion in 2018, Zhong said.

That would mark a slowdown from growth rates of 7.9 percent in 2017 and 4.1 percent in 2016.

But Zhong said China had maintained stable FDI growth "against a gloomy global climate," noting that total FDI around the world had slumped by 41 percent in the first half of last year.

China has been pushing to broaden opportunities for private firms and foreign investors to stimulate an economy that is slowing on the back of weakening domestic demand and a trade war with the United States.

Zhong said "properly handling" trade frictions with the United States was a major task for the ministry in 2019.

The ministry would "conscientiously implement" the consensus to work toward a resolution of the trade row reached by Chinese President Xi Jinping and U.S. counterpart Donald Trump in Argentina late last year, he added.

The two sides held three days of trade talks at a vice-ministerial level in Beijing last week.

Zhong said the Commerce Ministry would push for the introduction of a foreign investment law as soon as possible, improve the handling of complaints from foreign firms, and encourage foreign investment in manufacturing and high tech.

The ministry would also encourage foreigners to invest in central and western China, he said.

China says will reduce foreign investment curbs, 2018 FDI rises 3 percent: commerce minister
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments
Bill Hoerter
Bill Hoerter Jan 12, 2019 10:27AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
This is China becoming a real member of the WTO!
Reply
2 0
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email