China promises to open its door to foreign investors | 中国、国外からの投資規制緩和へ

In the opening address of Communist Party’s 19th National Congress last month (October), China's President Xi Jinping promised to open up his country for greater market access to foreign investors.

Xi said China would significantly lower the threshold for entrance to China’s markets, treat locally registered companies in an equal and fair way, and protect the legal interests of foreign businesses in China. He also said that China will continue to promote liberalisation of trade and investment to create an "open and inclusive" global economic system.

"Opening leads to progress while closing only leads to backwardness. China won’t close its opened door – the door will only be opened wider and wider," Xi said.

China has already promised to let US credit rating agencies run independently in China without the foreign holdings ceiling in financial joint ventures. Foreign electric-vehicle makers such as Tesla might also be allowed set up wholly owned factories in China.

In US and Europe, there is still mistrust of China's promises. The European Union Chamber of Commerce in China urged Beijing to take concrete steps to allow foreign firms a fair market access.

"When met with repeated promises, we can only deliver a familiar response: while it is positive that market opening and creating a level playing field remain on China's agenda, we now expect the authorities to begin the process of implementing policies that will lead to necessary improvements, both for business and China as a whole," chamber chairman Mats Harborn said.