China's National Development and Reform Commission has issued new guidelines, which take effect on 1 December, specifying the industries in which foreign investment is encouraged, restricted or forbidden, Interfax reports.
According to the NDRC, the new guidelines were generated following the
17th National Congress of the Communist Party of China, which called
for improvements in foreign investment structuring.
In response to China's burgeoning foreign exchange reserves and trade
surplus, and to help upgrade China's technology and service economies,
foreign enterprises are being urged to shift their investment focus
from traditional manufacturing and export-based industries to hi-tech
and advanced equipment manufacturing, services and logistics - and to
invest in the recycling and renewable energy sectors.
However, overseas investors are banned from what the guidelines call
"strategic and sensitive industries", including weapons manufacturing,
air transportation management, exploration of radioactive ores, ivory
carving, the lottery industry and mass media.
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