MOC bans local "negative list" for foreign investment

BEIJING - China's local authorities cannot set up "negative list" for foreign investment like that of the China (Shanghai) Pilot Free Trade Zone (FTZ) without the approval of the central government, the Ministry of Commerce (MOC) said on Tuesday.

An MOC official said that during a press conference, stressing the "negative list" in Shanghai was just under a pilot and cannot be copied in other regions unless it has gone through necessary legal procedures.

The "negative list" for foreign investment was the first of its kind in China when it was launched in the Shanghai FTZ in September 2013. Some restrictions on the financial, real estate, air transportation and entertainment industries have been eased in the 2014 version of list.

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