Legal analysis: the negative list of foreign investment access in China has been reduced from 40 to 33. Main changes: First, accelerate the opening process of key areas of service industry. In the financial field, the restrictions on the foreign share ratio of securities companies, securities investment fund management companies, futures companies and life insurance companies will be lifted. In the field of infrastructure, the provision that the construction and operation of water supply and drainage pipe networks in cities with a population of more than 500,000 must be controlled by the Chinese side has been abolished. The second is to relax access to manufacturing and agriculture. In the manufacturing sector, the restrictions on the ratio of foreign shares in commercial vehicle manufacturing will be relaxed, and the regulations prohibiting foreign investors from investing in the smelting, processing and nuclear fuel production of radioactive minerals will be abolished. In the field of agriculture, the breeding of new wheat varieties and seed production must be relaxed from the Chinese holding to the Chinese shareholding ratio of not less than 34%. The third is to continue to carry out open pilots in the Pilot Free Trade Zone. On the basis of national opening-up measures, the Pilot Free Trade Zone will continue to try first. In the field of medicine, the ban on foreign investment in Chinese herbal pieces was cancelled. In the field of education, wholly foreign-owned vocational education institutions with academic system are allowed.

Legal basis: National Development and Reform Commission's Special Administrative Measures for Foreign Investment Access (Negative List) (2020 Edition).

1. The Special Administrative Measures for Foreign Investment Access (Negative List) (hereinafter referred to as the Negative List for Foreign Investment Access) uniformly lists the special administrative measures for foreign investment access such as equity requirements and executive requirements. Areas outside the negative list of foreign investment access shall be managed in accordance with the principle of consistency between domestic and foreign investment.

2. The negative list of foreign investment access lists the transition period of canceling or relaxing access restrictions in some areas, and the access restrictions will be cancelled or relaxed on time after the transition period.