Greater room for foreign investment in the 11 Pilot Free Trade Zones

Tempo de leitura: 1 minuto

A number of temporary adjustments are to be made to the regulations relating to the administration of China’s 11 Pilot Free Zones. Intended to further enhance the liberalisation of these zones, among the most significant adjustments are the temporary suspension of the regulations relating to five particular sectors:

• The enforcement of the relevant sections of theRegulations Governing the Registration of Ships is temporarily suspended in order to accelerate improvements to the international ship registration system;
• The enforcement of the relevant sections of theRegulations on the Administration of the Printing Industry is temporarily suspended in order to allow foreign-invested enterprises to engage in the printing business of other printed matter;
• The enforcement of the relevant sections of theProvisions on Foreign Investment in Civil Aviation is temporarily suspended in order to allow foreign investors to act as the sole proprietors of aviation service sales agencies and to launch other related projects on the same basis, including air cargo warehousing, aviation ground services, airline catering and airport parking facilities. The previous requirement that the Chinese party should be the majority shareholder in all joint venture foreign-invested general aircraft maintenance companies has been suspended, while the requirement that foreign-invested aircraft maintenance enterprises can only undertake international maintenance business has been rescinded;
• The requirement, specified under the terms of theRegulations of the PRC on Certification and Accreditation, that foreign-invested enterprises should obtain the required qualifications from certification and accreditation institutions is temporarily suspended; and
• The enforcement of the relevant sections of theCatalogue for the Guidance of the Foreign Investment Industries (2017) is temporarily suspended in order to allow foreign investors to invest in internet access service venues.

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