A new playing field

The new policy has opened doors in some monopoly sectors. Overseas capital is now allowed to be invested in manufacturing industries such as rail transportation equipment, motorbikes and processing of oils and fats. Restrictions on foreign investments in extracting unconventional oils and minerals are loosened, while joint ventures to explore petroleum and gas are required to file documents for records instead of getting approval before operation.

“The inflow of foreign capital will accelerate reform in monopoly sectors by bringing foreign technologies and human resources along with capital,” said Hao Hongmei, Deputy Director of Institute of Foreign Investment, Chinese Academy of International Trade and Economic Cooperation (CAITEC).

Xu Hongcai, a researcher from the China Center for International Economic Exchanges, shares Hao’s