The Chinese government has started its public solicitation process for a significant change to its foreign investment policies.
The draft will see large cuts to the number of sectors that limit foreign investment, as well as the number of items that demand Chinese investors hold a majority stake.
Wang Dong is with the National Development and Reform Commission.
"In this round, the catalogue will see the most revisions in its history in terms of cutting restrictions on foreign investment. Over 90% of foreign investment projects are put on record."
The draft will no longer limit foreign investments in sectors such as steel, ethylene, oil refining, and paper making.
It also lists more than 300 sectors that are going to welcome foreign investment, including vocational training, homes for seniors and services for children and the disabled.
This represents the largest cut in restrictions since the foreign investment provisions were first put in-place back in 1995.
