China has cut the number of sectors and businesses that are off-limits for both domestic and foreign investors in a revised negative list for market access, the country's top economic planner said Wednesday.
The shortened list contains fewer administrative measures on investment and is still subject to approval, said Meng Wei, a spokesperson with the National Development and Reform Commission.
Industries, fields and businesses not on the list are open for investment to all market players. Chinese authorities revise the list on an annual basis, with the 2018 version released last December.
Unlike the negative lists for foreign investment market access released in June, the unified list applies to all market players including both domestic and foreign investors.
The negative list approach has been proven successful in making market access management more open, inclusive and predictable, as well as in boosting market vitality, Meng said.
The country will pilot projects in some provinces to further widen market access, especially in the service sector, Meng said.