Pingtan pilot zone releases negative list

Pingtan Comprehensive Pilot Zone in Fujian province published on June 3 its negative list, which specifies bans or restrictions on certain types of foreign investments.

Officially launched on May 31, the negative list groups 14 sectors of the national economy, such as manufacturing, transportation, IT and finance.

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There are 99 regulative measures on the conduct of business in Pingtan. Any sectors not on the list are open to foreign investors.

The banned areas include exploration of noble metals and rare earths, telecommunication, compulsory education and arms.

Yan Xiaohua, an official with administration committee of the Pingtan Comprehensive Pilot Zone, said since the zone has been playing a pioneering role in cross-Straits trade cooperation, the negative list specifically loosens restrictions on Taiwan investors.

For instance, foreign investment (except Taiwan investment) in banking, insurance and securities in the zone remains subject to limitations.

With an area of about 324 square kilometers, Pingtan is the closest mainland island to Taiwan.