China to annually revise negative list for market access

BEIJING — Chinese authorities will revise the negative list for market access on an annual basis, and will unveil the 2019 version later this year.

To upgrade the negative list, China will set up a mechanism that combines annual revision with dynamic adjustments, the National Development and Reform Commission said in a statement.

By doing so, the country will keep the list in line with the latest developments of its reforms, and respond to the calls from market players to continue relaxing market access barriers, the statement said.

The country will work to apply the same negative list around the whole country, and ensure that all legal and effective management measures are included in it.

"We will resolutely eliminate illegal market access approvals, covert access thresholds, and negative lists on access made by local authorities," the statement said.

The negative list for market access outlines sectors, fields and businesses off-limits for investors. Industries, fields and businesses not on the list are open for investment to all market players.

China announced the 2018 version of the negative list in December.