1. The "Special Management Measures for Foreign Investment Access (Negative List)" (hereinafter referred to as the "Negative List for Foreign Investment Access") uniformly lists equity requirements, executive requirements and other aspects of foreign investment access. Special management measures. Areas outside the "Negative List for Foreign Investment Access" are managed in accordance with the principle of consistency between domestic and foreign investment. 2. The "Negative List for Foreign Investment Access" lists a transition period for the cancellation or relaxation of access restrictions in some fields. After the expiration of the transition period, access restrictions will be canceled or relaxed on time. 3. Overseas investors are not allowed to engage in investment and business activities as individual industrial and commercial households, sole proprietorship investors, or members of farmers' professional cooperatives. 4. Foreign investors are not allowed to invest in areas where foreign investment is prohibited in the "Negative List for Foreign Investment Access"; to invest in non-prohibited investment areas within the "Negative List for Foreign Investment Access", foreign investment access permission is required; investment has equity requirements Foreign-invested partnerships are not allowed to be established in the fields. 5. When a domestic company, enterprise or natural person merges and acquires a domestic company with which it has an affiliated relationship with a company legally established or controlled overseas, matters involving foreign investment projects and enterprise establishment and changes shall be handled in accordance with the current regulations. 6. Measures related to culture, finance and other fields not listed in the "Negative List for Foreign Investment Access" as well as administrative approval, qualification conditions, national security and other related measures shall be implemented in accordance with current regulations. 7. "Mainland and Hong Kong Closer Economic Partnership Arrangement" and its follow-up agreements, "Mainland and Macao Closer Economic Partnership Arrangement" and its follow-up agreements, "Cross-Strait Economic Cooperation Framework Agreement" and its follow-up agreements , free trade area agreements and investment agreements signed between my country and relevant countries, and international treaties to which my country is a party have more preferential opening measures for qualified investors, the provisions of the relevant agreements or agreements shall be implemented. The implementation of more preferential opening-up measures for qualified investors in special economic zones such as free trade pilot zones shall be implemented in accordance with relevant regulations. 8. The National Development and Reform Commission and the Ministry of Commerce, together with relevant departments, are responsible for interpreting the Negative List for Foreign Investment Access.
Special Management Measures for Foreign Investment Access (Negative List) (2019 Edition)
Serial Number Special Management Measures 1. Agriculture, forestry, animal husbandry, and fishery 1. Breeding of new wheat and corn varieties and seed production must be controlled by the Chinese party. 2. It is prohibited to invest in the research and development, breeding, planting and production of related propagation materials of China’s rare and unique precious and fine varieties (including fine genes in planting, animal husbandry and aquaculture). 3. Investment in the breeding of genetically modified crops, breeding livestock and poultry, and aquatic seedlings and the production of genetically modified seeds (seedlings) is prohibited. 4. Investment in fishing for aquatic products in waters under China’s jurisdiction and in inland waters is prohibited. 2. Mining Industry 5. Investment in rare earth, radioactive minerals, tungsten exploration, mining and mineral processing is prohibited. 3. Manufacturing 6 Publication printing must be controlled by the Chinese party. 7. Investment in radioactive mineral smelting and processing and nuclear fuel production is prohibited. 8. It is prohibited to invest in the application of processing technologies such as steaming, frying, broiling, and calcining of traditional Chinese medicine pieces and the production of confidential prescription products of proprietary Chinese medicines. 9. Except for special-purpose vehicles and new energy vehicles, the Chinese shareholding ratio in vehicle manufacturing shall not be less than 50%. The same foreign investor may establish two or less domestic joint ventures to produce similar vehicle products. (Restrictions on foreign shareholding ratios in commercial vehicle manufacturing will be lifted in 2020. In 2022, restrictions on foreign shareholding ratios in passenger car manufacturing will be lifted, as well as restrictions on the same foreign company being able to establish two or less joint ventures in China that produce similar vehicle products) 10 satellites Production of television broadcasting ground receiving facilities and key components. 4. Electricity, heat, gas and water production and supply industries 11. The construction and operation of nuclear power plants must be controlled by the Chinese party. 12 The construction and operation of urban water supply and drainage pipe networks in cities with a population of more than 500,000 must be controlled by the Chinese party. 5. Wholesale and retail industry 13. It is prohibited to invest in the wholesale and retail of tobacco leaves, cigarettes, re-cured tobacco leaves and other tobacco products. 6. Transportation, warehousing and postal industry 14. Domestic water transportation companies must be controlled by the Chinese party. 15. Public air transport companies must be controlled by the Chinese party, and the investment proportion of a foreign businessman and its affiliated enterprises shall not exceed 25%. The legal representative must be a Chinese citizen. 16. The legal representative of a general aviation company must be a Chinese citizen. Among them, agricultural, forestry and fishery general aviation companies are limited to joint ventures, and other general aviation companies are limited to Chinese holdings.
No. Special Management Measures 17 The construction and operation of civil airports must be relatively controlled by the Chinese party. 18. Investment in air traffic control is prohibited. 19. Investment in postal companies and domestic express delivery business for letters is prohibited. 7. Information transmission, software and information technology service industry 20 Telecommunications companies: limited to the telecommunications services that China has promised to open after joining the WTO, and the foreign shareholding ratio of value-added telecommunications services does not exceed 50% (except for e-commerce, domestic multi-party communications, storage and forwarding, and call centers) ), the basic telecommunications business must be controlled by the Chinese party. 21 It is prohibited to invest in Internet news information services, online publishing services, online audio-visual program services, Internet cultural operations (except music), and Internet public information release services (except for the above-mentioned services that have been opened in China's WTO commitments).
8. Financial Industry 22 The foreign shareholding ratio of securities companies shall not exceed 51%, and the foreign shareholding ratio of securities investment fund management companies shall not exceed 51%. (Restrictions on foreign shareholding will be lifted in 2021) 23 The foreign shareholding ratio of futures companies shall not exceed 51%. (Restrictions on foreign shareholding will be lifted in 2021) 24 The foreign shareholding ratio of life insurance companies shall not exceed 51%. (Restrictions on foreign shareholding will be lifted in 2021) 9. Leasing and business services industry 25. It is prohibited to invest in Chinese legal affairs (except for providing information on the impact of China’s legal environment), and is not allowed to become a partner of a domestic law firm. 26 Market research is limited to joint ventures and cooperation, among which radio and television listening and ratings surveys must be controlled by the Chinese party. 27 It is prohibited to invest in social surveys. 10. Scientific research and technical services industry 28. Investment in the development and application of human stem cells, genetic diagnosis and treatment technologies is prohibited. 29. Investment in humanities and social science research institutions is prohibited. 30 It is prohibited to invest in geodesy, marine surveying and mapping, aerial photography of surveying and mapping, ground mobile surveying, administrative area boundary surveying and mapping, topographic maps, world political district maps, national political district maps, provincial and lower political district maps, national teaching maps, local Compilation of teaching maps, true three-dimensional maps and navigation electronic maps, regional geological mapping, mineral geology, geophysics, geochemistry, hydrogeology, environmental geology, geological hazards, remote sensing geology and other surveys. 11. Education 31 Preschool, general high school and higher education institutions are limited to Sino-foreign cooperative education and must be led by the Chinese side (the principal or main administrative person in charge must have Chinese nationality, and the Chinese members of the council, board of directors or joint management committee shall not be less than 1 /2). 32. Investment in compulsory education institutions and religious education institutions is prohibited. 12. Health and Social Work 33 Medical institutions are limited to joint ventures and cooperation.
No. Special Management Measures 13. Culture, Sports and Entertainment Industry 34. Investment in news organizations (including but not limited to news agencies) is prohibited. 35. It is prohibited to invest in the editing, publishing and production business of books, newspapers, periodicals, audio-visual products and electronic publications. 36 It is prohibited to invest in radio and television stations (stations), television stations (stations), radio and television channels (rates), radio and television transmission coverage networks (transmitting stations, relay stations, radio and television satellites, satellite uplink stations, satellite receiving and relaying stations, microwave stations) at all levels , monitoring stations and cable radio and television transmission coverage networks, etc.), it is prohibited to engage in radio and television video on demand services and satellite television broadcasting ground receiving facility installation services. 37. Investment in radio and television program production and operation (including introduction business) companies is prohibited. 38. Investment in film production companies, distribution companies, theater companies and film introduction businesses is prohibited. 39. It is prohibited to invest in auction companies, cultural relics shops and state-owned cultural relics museums that auction cultural relics. 40. Investment in theatrical performance groups is prohibited.