1.The Special Management Measures for Foreign Investment Admission (Negative List) (hereinafter referred to as the “Negative List of Foreign Investment Admissions”) unifies the special management measures for foreign investment access such as equity requirements and executive requirements. In areas other than the Negative List of Foreign Investment Admission, the management is implemented in accordance with the principle of domestic and foreign investment.

2.The Negative List of Foreign Investment Admissions lists transition periods for cancellation or relaxation of access restrictions in some areas. After the transition period expires, the access restrictions will be cancelled or relaxed on time.

Investment

3. Foreign investors shall not engage in investment business activities as individual industrial and commercial households, individual-invested enterprise investors, and farmers’ professional cooperatives.

4. Foreign investors are not allowed to invest in the field of foreign investment restrictions in the “Negative List of Foreign Investment Admissions”; investment in the non-proscribed investment field within the “Negative List of Foreign Investment Admissions” must be subject to foreign investment permit; investment in areas with equity requirements Foreign investment partnerships may not be established.

5. Where a domestic company, enterprise or natural person has a domestic company that is legally established or controlled by a company that is legally established or controlled abroad, involving foreign investment projects and establishment and alteration of the enterprise, it shall be handled in accordance with the current regulations.

6. The cultural, financial and other fields not listed in the “Negative List of Foreign Investment Allowances” and related measures such as administrative examination and approval, qualification conditions, and national security shall be implemented in accordance with the current regulations.

7. “Mainland and Hong Kong Closer Economic Partnership Arrangement” and its follow-up agreements, “Mainland and Macao Closer Economic Partnership Arrangement” and its follow-up agreements, “Framework Agreement on Cross-Strait Economic Cooperation” and its follow-up agreements, China Where free trade zone agreements and investment agreements signed with relevant countries and international treaties to which China is a party have more preferential opening measures for eligible investors, they shall be implemented in accordance with the relevant agreements or agreements. In the special economic zones such as the free trade pilot zone, if more favorable opening measures are implemented for eligible investors, they shall be implemented in accordance with relevant regulations.

8. The Negative List of Foreign Investment Admission is interpreted by the Development and Reform Commission and the Ministry of Commerce in conjunction with relevant departments.

Serial number

field

Special management measures

<![if !supportLists]>I. <![endif]>Agriculture, forestry, animal husbandry and fishery

 

 

 

 

 

1

 

 

 

 

 

Seed industry

(1). Breeding of new varieties of wheat and corn and seed production must be controlled by the Chinese side.

(2). It is forbidden to invest in the research and development, breeding, planting and production of related reproductive materials (including good genes for planting, animal husbandry and aquaculture) of China’s rare and unique precious varieties.

(3). It is forbidden to invest in the selection of genetically modified varieties of crops, breeding livestock and aquatic products, and the production of genetically modified seeds (seedlings).

2

Fishery

(4). It is forbidden to invest in aquatic products from China’s jurisdictional waters and inland waters.

<![if !supportLists]>II. <![endif]>Mining industry

 

 

3

 

Oil and gas

extraction industry

 

(5). The exploration and development of oil and natural gas (excluding coalbed methane, oil shale, oil sands, shale gas, etc.) is limited to joint ventures and cooperation.

 

 

 

4

 

 

Non-ferrous metal or non-metallic mining and mining auxiliary activities

 

(6). It is forbidden to invest in the exploration and mining of tungsten, molybdenum, tin, antimony and fluorite.

(7). It is forbidden to invest in rare earth exploration, mining and mineral processing.

(8). It is forbidden to invest in radioactive mineral exploration, mining and mineral processing.

<![if !supportLists]>III. <![endif]>Manufacturing

 5

Printing Industry

(9). The printing of publications must be controlled by the Chinese side.

 

6

Nuclear fuel and nuclear radiation processing industry

 

(10). It is forbidden to invest in radioactive mineral smelting, processing, and nuclear fuel production.

 

7

 

 

Processing of Chinese Herbal Pieces and Production of Chinese Patent Medicine

 

(11). It is forbidden to invest in the application of steaming, frying, simmering, calcining and other processing techniques for Chinese herbal medicines and the production of secret prescription products for proprietary Chinese medicines.

 

 

 

 

 

 

8

 

 

 

 

Automotive Manufacturing

(12). Except for special vehicles and new energy vehicles, the proportion of Chinese stocks in automobile manufacturing is not less than 50%. The same foreign company can establish two or more joint ventures producing similar vehicle products in China. (In 2020, the restrictions on the foreign-invested shares of commercial vehicles were eliminated. In 2022, the restrictions on the foreign-invested shares of passenger vehicles were eliminated, and the restrictions on the establishment of two or more joint ventures for the production of similar complete vehicles by the same foreign company in China)

 

9

Communication equipment manufacturing

 

(13). Satellite TV broadcasting ground receiving facilities and production of key components.

 

10

Other manufacturing

 

(14). It is forbidden to invest in rice paper and ink ingot production.

 

 

 

Serial number

field

Special management measures

<![if !supportLists]>IV. <![endif]>Electricity, heat, gas and water production and supply

11

Nuclear power generation

(15). The construction and operation of a nuclear power plant shall be controlled by the Chinese party.

 

12

 

Pipe network facility

(16). The construction and operation of urban gas, heat and water supply and drainage pipe networks with an urban population of over 500,000 must be controlled by the Chinese side.

<![if !supportLists]>V. <![endif]>Wholesale and retail trade

13

Tobacco products

(17). It is forbidden to invest in the wholesale and retail of tobacco leaves, cigarettes, re-cured tobacco leaves and other tobacco products.

<![if !supportLists]>VI. <![endif]>Transportation, warehousing and postal services

 

 

14

Water transport industry

(18). Domestic water transport companies must be controlled by the Chinese side.

(19). Domestic shipping agency companies must be controlled by the Chinese side.

 

 

15

Air passenger and cargo transportation

(20).The public air transport company shall be controlled by the Chinese party, and the proportion of investment by a foreign company and its affiliated enterprises shall not exceed 25%. The legal representative shall be a citizen of Chinese nationality.

 

 

16

General aviation service

(21). The legal representative of General Airlines must be a citizen of Chinese nationality. The general airlines of agriculture, forestry and fishery are limited to joint ventures, and other general airlines are limited to the Chinese party.

 

17

Airport and air traffic management

 

(22). The construction and operation of civil airports must be relatively controlled by the Chinese.

(23). It is forbidden to invest in air traffic control.

18

Postal industry

(24). It is forbidden to invest in the domestic express delivery business of postal companies and letters.

<![if !supportLists]>VII. <![endif]>Information transmission, software and information technology services

 

 

19

 

 

Telecommunications

(25). Telecommunications company: limited to China’s accession to the WTO commitment to open telecommunications business, value-added telecommunications business foreign shares than 50% (excluding e-commerce), the basic telecommunications business must be controlled by the Chinese.

 

 

20

 

Internet and related services

(26). It is forbidden to invest in Internet news information services, online publishing services, online audiovisual program services, Internet cultural operations (except music), and Internet public information services (except for those services that have been opened in China’s WTO commitments).

<![if !supportLists]>VIII. <![endif]>Financial industry

 

 

21

 

 

Capital market service

(27). The ratio of foreign shares of a securities company shall not exceed 51%, and the ratio of foreign shares of a securities investment fund management company shall not exceed 51%. (Removal of foreign shares ratio limit in 2021)

(28). The ratio of foreign shares of futures companies is no more than 51%. (Removal of foreign shares ratio limit in 2021)

22

Insurance

(29). The ratio of foreign shares of life insurance companies is no more than 51%. (Removal of foreign shares ratio limit in 2021)

<![if !supportLists]>IX. <![endif]>Leasing and business services

 

23

 

Legal service

(30). It is forbidden to invest in Chinese legal affairs (except for information on the environmental impact of Chinese law) and may not become a partner of a domestic law firm.

 

 

24

Consulting and investigation

(31). Market research is limited to joint ventures and cooperation. Radio and television listening and viewing surveys must be controlled by the Chinese side.

(32). It is forbidden to invest in social surveys.

<![if !supportLists]>X. <![endif]>Scientific research and technical services

 

 

 

Serial number

field

Special management measures

 

 

25

Research and experimental development

(33).It is forbidden to invest in the development and application of human stem cells, genetic diagnosis and treatment technologies.

(34).It is forbidden to invest in humanities and social science research institutions.

 

 

 

 

 

 

26

 

 

 

Professional technical service industry

(35). It is forbidden to invest in geodetic survey, ocean surveying and mapping, aerial photography, ground motion measurement, administrative area boundary mapping, topographic map, map of world political district, map of national political district, map of provincial and below political districts, national teaching map, local teaching Maps, true three-dimensional maps and navigation electronic maps, regional geological mapping, mineral geology, geophysics, geochemistry, hydrogeology, environmental geology, geological hazards, remote sensing geology, etc.

<![if !supportLists]>XI. <![endif]>Water, environmental and public facilities management

 

27

Wildlife protection

 

(36).It is forbidden to invest in the development of wildlife resources originating in China that are protected by the state.

<![if !supportLists]>XII. <![endif]>Education

 

 

 

 

 

28

 

 

 

 

 

Education

(37).Pre-school, general high school and higher education institutions are limited to Chinese-foreign cooperative education, and must be led by the Chinese (the principal or principal administrative person in charge should have Chinese nationality, and the Chinese party members of the board of directors, the board of directors or the joint management committee must not be less than 1/2).

(38).It is forbidden to invest in compulsory education institutions and religious education institutions.

<![if !supportLists]>XIII. <![endif]>Health and social work

29

Health

(39).Medical institutions are limited to joint ventures and cooperation.

<![if !supportLists]>XIV. <![endif]>Culture, sports and entertainment

 

 

30

 

 

News Publishing

(40).It is forbidden to invest in news organizations (including but not limited to news agencies).

(41).It is forbidden to invest in the editing, publishing and production of books, newspapers, periodicals, audio-visual products and electronic publications.

 

 

 

 

 

 

 

31

 

 

 

 

Broadcast, broadcast, transmission, production, operation

(42).It is forbidden to invest in radio stations (station), television stations (station), radio and television channels (rates), radio and television transmission coverage networks (transmitters, relay stations, radio and television satellites, satellite uplink stations, satellite transfer stations, microwave stations, Monitoring stations and cable radio and television transmission coverage networks, etc., are prohibited from engaging in radio and television video on demand services and satellite TV broadcasting ground receiving facilities installation services.

(43).It is forbidden to invest in companies that produce and operate radio and television programs (including imported services).

 

 

32

 

Film production, distribution, screening

(44).The construction and operation of cinemas must be controlled by the Chinese side.

(45).It is forbidden to invest in film production companies, distribution companies, cinema companies and film introduction businesses.

 

33

Cultural relic protection

(46).Auction companies, cultural relics stores and state-owned cultural relics museums that prohibit the investment of cultural relics.

 

 

34

 

Cultural entertainment

<![if !supportLists]>(47) <![endif]>.The performance brokerage institution must be controlled by the Chinese party.

<![if !supportLists]>(48) <![endif]>.It is forbidden to invest in cultural performance groups.

 

Information Source: Ministry of Commerce Public Services