Special Administrative Measures for Foreign Investment Access (Negative List) (2021)

The National Development and Reform Commission (NDRC) and the Ministry of Commerce issued the Order of the Ministry of Commerce No. 47 to further encourage foreign investment in China.  
Between 2017 and 2020, China updated its negative list annually to improve its foreign investment approach. Despite a global decrease in cross-border investments in 2020, China attracted $149.3 billion as the world’s second-largest recipient. To further encourage more investments, the NDRC and the Ministry of Commerce further shortens the negative list this year, increasing investment openness.
Compared to the 2020 version, the updated list is more streamlined. Key changes include: (1) Expanding foreign investment opportunities in manufacturing, particularly by easing restrictions in the automotive and broadcasting equipment sectors; (2) Improving foreign investment access within service sectors in Pilot Free Trade Zones (Pilot FTZs); (3) Increasing the clarity of management upon the areas prohibited by the negative list, including clarifying that foreign investors are not allowed to participate in the management of enterprises, etc. 
Regarding the mining industry, it is also stated that foreign investment in rare earths, radioactive minerals, and tungsten exploration, mining, and beneficiation is prohibited.

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