Friday, April 20, 2018 | ePaper

China eases 27 foreign investment restrictions in FTZs

  • Print
PTI, Beijing :
In a bid to arrest its economic slowdown, China has eased restrictions on foreign investment in its free trade zones, removing 27 items across eight sectors including mining, manufacturing and banking, on which foreign investment was barred.
In manufacturing, foreign companies are allowed to produce their own rail transport facilities, instead of having to set up joint ventures with local firms. Rules were also eased for foreign companies manufacturing electric vehicles and related products, state-run Xinhua news agency reported.
In finance, foreign banks are permitted to underwrite government bonds and they do not have to wait for a minimum period of operation to launch Renminbi (RMB) services.
The list, first compiled in 2013, spells out specific bans or restrictions to foreign investment. Authorities have vowed to gradually shorten the list to further open the market.
In 2013, there were 190 items on the list. This was reduced to 139 in 2014, and to 122 in the previous 2015 update. The list now stands at 95 items, the report said.
However, it only applies in the free trade zones-which have expanded from the first in Shanghai to the current 11 across the country.
Chinese economy slowed down to 6.9 per cent last year and the government has cut down the growth to 6.5 per cent this year.

More News For this Category

Golam Moinuddin, Chairman of British American Tobacoo Bangladesh Company Limited, presiding over its 45th Annual General Meeting at a hotel in the city on Tuesday.  Shehzad Munim, Managing Director, BAT Bangladesh, Board of Directors comprising of  Mohammad Moinuddin Abdullah, KH Masud Siddiqui, Mikail Shipar,  Muhammad Abdullah, Tahmina Begum and Kazi Sanaul Hoq and Company Secretary Md. Azizur Rahman, FCS were present.

Golam Moinuddin, Chairman of British American Tobacoo Bangladesh Company Limited, presiding over its 45th Annual General Meeting at a hotel in the city on Tuesday. Shehzad Munim, Managing Director, BAT Bangladesh, Board of Directors comprising of Mohammad Moinuddin Abdullah, KH Masud Siddiqui, Mikail Shipar, Muhammad Abdullah, Tahmina Begum and Kazi Sanaul Hoq and Company Secretary Md. Azizur Rahman, FCS were present.

.

China, Japan vow 'new starting point' in ties

AFP, Tokyo :Asian rivals China and Japan on Monday pledged a "new starting point" for bilateral ties, vowing to co-operate closely amid a flurry of diplomacy on the North

S.Korea's forex deposits rise on corporate reluctance to sell $

Xinhua, Seoul :Foreign currency-denominated deposits in South Korea rose last month as companies were reluctant to sell U.S.  dollars amid the greenback's weakness to the domestic currency, central bank

IMF warns of risks as central banks tighten policy

AFP, Washington :The International Monetary Fund urged central banks Wednesday to take a gradual and transparent approach to tightening monetary policy, warning that unexpected moves could shock the global

KSA-Russia oil alliance likely to undercut OPEC

AFP, Dubai :Saudi Arabia hopes to bring Russia into the fold of an expanded club of global oil giants to sustain a stable market, leaving OPEC's role in question,

Britain hoping for Brexit boost from Commonwealth summit

AFP, London :Britain is hoping this week's Commonwealth summit will prise open greater trade with its historic network as it prepares to quit the European single market under Brexit.

Gazi Golam Dastagir MP, Director of Jamuna Bank Limited, inaugurating its Sports Club at its head office in the city recently. Md.Ismail Hossain Siraji, Chairman, Shafiqul Alam, Managing Director, Gazi Golam Murtoza, Redwan ul Karim Ansari, Robin Razon Sakhawat, Md. Rafiqul Islam and Narayan Chandra Saha, Directors of the bank were also present.

Gazi Golam Dastagir MP, Director of Jamuna Bank Limited, inaugurating its Sports Club at its head office in the city recently. Md.Ismail Hossain Siraji, Chairman, Shafiqul Alam, Managing Director, Gazi Golam Murtoza, Redwan ul Karim Ansari, Robin Razon Sakhawat, Md. Rafiqul Islam and Narayan Chandra Saha, Directors of the bank were also present.

.

Pro-vice Chancellor and acting Vice Chancellor of Bangladesh Agricultural University Professor Dr.Md. Jasimuddin Khan, delivered his speech as chief guest in the Inception Workshop on Epidemiological Investigation on Zoonotic Tuberculosis and Campylobacteriosis associated with Dairy Farming in the Sasakawa auditorium, ICDDR,B Mohakhali in city on Thursday.

Pro-vice Chancellor and acting Vice Chancellor of Bangladesh Agricultural University Professor Dr.Md. Jasimuddin Khan, delivered his speech as chief guest in the Inception Workshop on Epidemiological Investigation on Zoonotic Tuberculosis and Campylobacteriosis associated with Dairy Farming in the Sasakawa auditorium, ICDDR,B Mohakhali in city on Thursday.

.

aRe-elected Chairman, Vice Chairman of Green Delta Insurance

aRe-elected Chairman, Vice Chairman of Green Delta Insurance

Business Desk :The Board of Directors of Green Delta Insurance Company Limited has recently re-elected Md. Abdul Karim as Chairman and Kamran Idris Chowdhury as Vice Chairman, says a

Thai trade show from April 23 in city

Economic Reporter :A four-day Thai trade show will begin on April 23 aiming to build relation, especially in trade, between the people of Bangladesh and Thailand."Commerce Minister Tofail Ahmed