Parts of China¡¯s Service Trade Sector Open to the World
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| 12/17/2004 1:1:0 Beijing Daily News |
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Starting December 11, China will open its basic telecommunication service to the outside world with certain restrictions. Foreign capital may set up JV enterprises in Shanghai, Guangzhou and Beijing, with 30% share, and provide services within and between these cities. Another 14 cities, including Shenzhen, and Hangzhou etc., will open up these businesses within the next year.
Starting December 11, there will no longer be restrictions to foreign businessmen engaging in retail and distribution businesses in China. Designated business operation concerning the five categories of materials, including steel, will be abolished starting December 11. In service trade sectors, such as insurance, securities, banking and insurance, tourism, transport, and warehousing etc., relevant regional and business scope restrictions to foreign investors will also be lifted starting this day.
Aside from the above-mentioned service trade sectors, after 2005, sectors including construction, tourism and transport etc. will allow establishment of sole-proprietary enterprises.
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