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Hainan FTP Relaxes Foreign Investment Rules - China Legal News

Mon, 01 Feb 2021
Categories: China Legal Trends

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On 31 Dec., China’s National Development and Reform Commission and the Ministry of Commerce jointly issued the “Special Administrative Measures (Negative List) for Foreign Investment Access to Hainan Free Trade Port (2020) ”.

On 31 Dec., the National Development and Reform Commission (NDRC) and the Ministry of Commerce(MOFCOM) jointly issued the “Special Administrative Measures (Negative List) for Foreign Investment Access to Hainan Free Trade Port (2020)” (海南自由贸易港外商投资准入特别管理措施(负面清单)(2020年版)) (the 2020 Negative List for Free Trade Port). 

On 23 June 2020, the NDRC and the MOFCOM published the “Special Administrative Measures (Negative List) for Foreign Investment Access to Pilot Free Trade Zones (2020)” (自由贸易试验区外商投资准入特别管理措施(负面清单)(2020年版)), providing the basis for formulating the 2020 Negative List for Free Trade Port. In contrast to the 30 articles in the 2020 Negative List for Foreign Investment Access to Pilot Free Trade Zones, the 2020 Negative List for Free Trade Port merely has 27 articles, some of which have been partially relaxed, including: promoting the opening up of such key areas as value-added telecommunications and education, expanding the opening up of value-added telecommunications services, and removing restrictions on foreign investment access to online data processing and transaction processing business; expanding the opening up of commercial services; relaxing the access to manufacturing and mining industries, and canceling the provisions on prohibiting foreign investment in the exploration, mining and beneficiation of rare earth, radioactive minerals and tungsten. 

The 2020 Negative List for Free Trade Port will come into effect on 1 Feb. 2021. The NDRC, together with the MOFCOM and other departments as well as Hainan Province, will implement the 2020 Negative List for Free Trade Port and ensure the timely implementation of new opening-up measures. At present, the Standing Committee of the National People's Congress is drafting the Hainan Free Trade Port Law that contains investment liberalization and facilitation, aiming to provide a stronger legal guarantee for the implementation of the 2020 Negative List for Free Trade Port. 

Contributors: CJO Staff Contributors Team

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