Your current location:HOME >world >China pilots foreign equity limit removal in value 正文
TIME:2024-05-01 00:41:48 Source: Internet compilationEdit:world
(Global Times) 15:37, April 11, 2024The Ministry of Industry and Information Technology (MIIT) on We
The Ministry of Industry and Information Technology (MIIT) on Wednesday announced a pilot project to remove foreign ownership restrictions on some domestic value-added telecom services in four regions of China - Beijing, Shanghai, Hainan and Shenzhen - showing the country's determination to expand opening-up on all fronts.
A circular released by the MIIT noted that the value-added telecom services will include internet data centers, content delivery networks and internet service providers, among others, marking the latest endeavor to promote high-quality opening-up and accelerate the process of new industrialization.
China will provide equal treatment to foreign entities approved for the pilot programs, eliminating the 50 percent foreign ownership limit in these critical sectors, and it will no longer impose ownership ratio restrictions, the MIIT confirmed.
China is progressively opening its doors, with the action highlighting the country's confidence and determination in further opening-up amid global protectionism. These moves are expected to boost the vitality of the Chinese market, experts said.
China welcomes foreign firms to thrive in its market while benefiting from its development. Meanwhile, we encourage other countries to create favorable business environments for Chinese enterprises, promoting win-win economic globalization, Xiang Ligang, director-general of the Beijing-based Information Consumption Alliance, told the Global Times on Wednesday.
Jin Zhuanglong, the head of MIIT, noted during this year's two sessions in March that "advancing new industrialization requires deepening reforms and expanding openness."
Widening foreign access to value-added telecom services serves as one of the critical fulfillments of the plan.
The pilot project aims at proactively aligning with international high-standard economic and trade rules, continuously optimizing the business environment for foreign investment, and facilitating the establishment of a new development paradigm, according to the ministry.
The pilot project is in line with China's commitment to shortening the negative list for foreign investment. All market access restrictions on foreign investment in manufacturing will be abolished, and market access restrictions in services sectors, such as telecommunications and healthcare, will be reduced, according to the Government Work Report released in March.
Opening up the telecommunications sector, which is a highly sensitive sector crucial for national security, demonstrates China's confidence. Meanwhile, the pilot approach also reflects the government's cautious and prudent stance, Fu Liang, a Beijing-based tech analyst, told the Global Times on Wednesday.
The move will bring in high-quality overseas enterprises to enrich consumer choices and stimulate domestic innovation, and enhance industry standards and international competitiveness.
Particularly in the internet data center sector, it will attract quality foreign data centers and cloud service firms, bolstering China's computing infrastructure, experts noted.
United Methodists prepare for votes on lifting LGBTQ bans and other issues at General Conference2024-05-01 00:23
Chinese scientists develop new treatment for tendon2024-05-01 00:02
NASA leaders discuss global challenges, solutions with Mexico president, lawmakers and students2024-05-01 00:01
Travis Kelce accepts a 'friendly' $14m Chiefs contract 'to keep the team together', claims ex2024-04-30 23:39
I know who killed Jill Dando, says her Crimewatch co2024-04-30 23:14
Riley Greene homers twice and Mark Canha goes deep to power Tigers past Rays 42024-04-30 23:09
Closing prices for crude oil, gold and other commodities2024-04-30 23:03
My friend's sausage dog ripped off a chunk of my cheek2024-04-30 22:27
British and Irish officials meet as tensions rise over what to do with asylum seekers2024-04-30 22:26
QB Stetson Bennett is back with the Rams for offseason workouts after missing his first NFL season2024-04-30 21:57
Warning signs of a mini2024-05-01 00:37
Royal Navy names latest 7,4002024-05-01 00:26
New Mexico reaches settlement in 2017 wage2024-04-30 23:42
Family pay tribute to 'incredible mother and cherished daughter' who was found dead at luxury five2024-04-30 23:26
Mississippi lawmakers expected to vote on Medicaid expansion plan with work requirement2024-04-30 23:18
Rizzo's 22024-04-30 23:04
Trout bats leadoff for first time since 2020 as three2024-04-30 22:59
Child murderer who abducted and killed schoolboy 50 years ago dies in prison of old age2024-04-30 22:57
Beijing improves services to facilitate film and television projects2024-04-30 22:13
McCutchen leads off with home run for second day in row and Pirates beat Brewers 22024-04-30 21:57