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On 28 June 2017, the PRC National Development and Reform Commission and the PRC Ministry of Commerce jointly released a revised Catalogue for the Guidance of Foreign Investment Industries (2017 Revision) ("2017 Catalogue"), which came into effect from 28 July 2017.
This is the seventh revision to the Catalogue since it was first issued in 1995. The 2017 Catalogue reflects the intention of the State Council to improve the investment environment, further loosen the requirements for market access in the service, manufacturing and mining industries, and to adopt a "negative list" management approach on a nationwide basis. There are three major amendments to the 2015 version:
- Structural changes – The 2017 Catalogue has adjusted the previous structure and changed it to include two main parts – "Encouraged Foreign Investment Industrial Catalogue" and "Special Administrative Measures on Foreign Investment Access to China (Negative List)".
- New investment opportunities – The number of restrictive measures in the 2017 Catalogue has been substantially reduced from 93 to 63. The list of sectors that completely ban foreign investment has also been shortened from 36 to 28.
- New investment restrictions – While the 2017 Catalogue relaxes restrictions in a variety of industries, certain industries (e.g. general aviation and banking) face tighter regulation with the update. Additionally, certain industries now fall under the "prohibited" category on the Negative List.
Click here to read our client update.
Please note that whilst the information in this Update is correct to the best of our knowledge and belief at the time of writing, it is only
intended to provide a general guide to the subject matter and should not be treated as a substitute for specific professional advice.
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Rajah & Tann Singapore LLP
Shanghai Representative Office
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Contacts: Chia Kim HuatPartnerD +65 62320464kim.huat.chia@rajahtann.comYang Lih ShyngPartnerD +86 21 6120 8818F +86 21 6120 8820lih.shyng.yang@rajahtann.comLinda QiaoHead, Shanghai OfficeD +86 21 6120 8818F +86 21 6120 8820linda.qiao@rajahtann.com| Rajah & Tann Asia is a network of legal practices based in Asia. |
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