People look at the skyline of the Central Business District in Beijing, China, April 16, 2020. ― Reuters pic
The scaling back of the so-called “negative-list” comes as the country works to revive its coronavirus-hit economy, as Beijing pledges to further open-up the economy to international investors. US and European companies, however, have been raising concerns that access to the Chinese market remains tough, and repeatedly complained of unfair treatment.
Previously, foreign capital in securities companies, futures companies and life insurance could not exceed 51 percent of the company’s total holdings.
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