China eases investment rules in free trade zones

Beijing:The Chinese government on Tuesday decided to ease investment rules in four Free Trade Zones (FTZ), temporarily allowing foreign investors to find wholly-owned enterprises in a number of fields, including iron and steel production and gas station operation. According to the central government website, the resolution on temporary adjustment of regulations for administrative approvals in the Shanghai, Guangdong, Tianjin and Fujian FTZs has been passed by the National People's Congress Standing Committee, Xinhua news agency reported. The adjustment contains a total of 51 items, with more than 20 involving changes from administrative approval to managerial registration for foreign investment, the website said. It has also approved foreign enterprises in dozens of areas outside of the negative list on foreign investment, covering sectors ranging from agriculture to transportation.