Beijing has removed the 50 percent foreign ownership limit in its telecoms pilot zones. The change allows international companies to establish operations in approved areas.
The policy shift aims to attract new investment while addressing restrictions imposed by the United States on carriers. International firms can now participate directly in the designated Chinese zones without the previous ownership restriction. Officials presented the move as a response to external pressures on the sector.
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China's Foreign Ministry spokesperson Lin Jian said Friday that China opposes new U.S. tariffs imposed on dozens of trading partners including China.
Chinese officials and executives highlighted plans to ease market access and expand services sectors at a business conference ahead of an APEC trade meeting in Suzhou.
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The Development Bureau has outlined plans to test measures easing the flow of data, materials and capital at a key innovation zone near the mainland border.
Hong Kong finance chief Paul Chan said the city is positioned to help Beijing promote its China Opportunity 2.0 initiative to global investors.
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China invested US$6.1 billion in Brazil last year, making the country Beijing’s top destination for overseas capital. The figure marked a 45 per cent increase from the previous year.