China to reduce restrictions on foreign investment - Xinhua
SHANGHAI, Jan 12 (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 report by the official Xinhua news agency on
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, Xinhua reported.
He said the Commerce Ministry would push for a foreign
investment law, 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 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
report did not elaborate.
(Reporting by Andrew Galbraith
Editing by Edmund Blair)
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