June 24, 2020 / 8:13 AM / 20 days ago

China state planner publishes 2020 negative list for foreign investment

BEIJING, June 24 (Reuters) - China’s state planner on Wednesday published the 2020 negative list for foreign investment, reducing the number of items on the list to 33 from 40 the previous year.

Foreign ownership caps on in brokerages, futures companies and life insurance companies would be removed, the National Development and Reform Commision said in a statement on its website, while ownership by foreign investors in wheat breeding, seed production would be raised to 66%.

The so-called negative list specifies industries where activities by foreign investors are either restricted or prohibited.

Reporting by Stella Qiu, Lusha Zhang and Ryan Woo; Editing by Andrew Heavens

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