China will allow foreign firms to tap into more businesses in free trade zones.
According to a statement by the State Council, foreign firms will be allowed in areas such as steel production, Chinese citizens’ overseas travels, grain purchase and wholesale, and motorbike production in free trade zones.
The government will also adopt a registration system for foreign firms or joint ventures, and major mergers and acquisitions involving foreign companies.
China now has free trade zones in Shanghai, Tianjin, the southern province of Guangzhou and the southeastern province of Fujian.