波多野结衣办公室双飞_制服 丝袜 综合 日韩 欧美_网站永久看片免费_欧美一级片在线免费观看_免费视频91蜜桃_精产国品一区二区三区_97超碰免费在线观看_欧美做受喷浆在线观看_国产熟妇搡bbbb搡bbbb_麻豆精品国产传媒

Global EditionASIA 中文雙語(yǔ)Fran?ais
Opinion
Home / Opinion / Chinese Perspectives

Negative list is positive for investments

By Zhao Peng | CHINA DAILY | Updated: 2025-11-18 07:42
Share
Share - WeChat
LI MIN/CHINA DAILY

China's Foreign Investment Law has established a management framework built on pre-entry national treatment and a negative list for foreign investment. Pre-entry national treatment means that foreign investors and their investments enjoy the same treatment given to domestic investors at the stage of market entry. The negative list, meanwhile, identifies specific sectors where foreign investment is restricted or not allowed.

Together these two elements represent the relationship between principle and exception. In principle, China treats foreign investments equally with domestic investments. The exceptions apply only for sectors explicitly listed in the negative list.

This system of pre-entry national treatment plus a negative list was a major policy decision of the CPC Central Committee with Comrade Xi Jinping at its core and marked a significant step in advancing China's high-level opening-up. It is not only a crucial component of China's new system for an open economy, but also a reflection of the government's emphasis on the rule of law.

The Recommendations of the Central Committee of the Communist Party of China for Formulating the 15th Five-Year Plan for Economic and Social Development, issued after the fourth plenary session of the 20th Central Committee of the CPC, propose to shorten the negative list for foreign investment and allow market entities a seamless transition for conducting business through institutional innovation.

The negative list is grounded in the principle that only sectors explicitly designated as prohibited or restricted are off-limits while all others are deemed permissible. By legally delineating the boundaries of public authority, the negative list serves to progressively reduce excessive government intervention through its ongoing refinement. In essence, the negative list uses the rule of law to define the limits of government oversight, thereby enabling the market to play a decisive role in resource allocation.

Before the adoption of the negative list, China employed a positive list system for foreign investment access. Under this framework, the Catalogue for the Guidance of Foreign Investment Industries categorized industries as encouraged, restricted or prohibited for foreign investment.

Since the catalogue only enumerated a finite set of permitted or encouraged sectors, market participants had to operate within constraints. Moreover, the positive list left numerous sectors — particularly emerging business models arising from social and economic evolution — without clear regulatory guidance.

These regulatory gray areas gave significant discretion to government agencies, which often erred on the side of caution and restricted market entry. Such extensive discretionary powers also increased risks of corruption and undermined stable, predictable conditions for investors.

Unlike the exhaustive enumeration of permitted activities under the positive list, the negative list specifies only those sectors that are subject to government regulation. This approach significantly broadens market freedom, reduces regulatory ambiguity, and limits administrative discretion at the investment entry stage.

By drawing a clearer and more transparent boundary between the government and the market, the negative list — applied uniformly nationwide and comprehensive in scope — helps eliminate long-standing regional and hidden market barriers. This greatly improves transparency in investment access, boosts market vitality and allows the government to concentrate on strengthening oversight in sensitive sectors. In doing so, it is able to fulfill its role more effectively.

Beyond those special administrative measures specified in the negative list, China applies the same rules to both domestic and foreign-invested enterprises. This reflects the country's commitment to creating a level playing field for competitors. In such an environment, all market participants, including foreign-invested enterprises, operate under the same regulatory framework without differentiation.

Foreign-invested enterprises are eligible for government policies that support business development, participate equally in standard-setting and compete fairly in government procurement processes.

Establishing a competition-neutral regulatory environment marks a strategic shift for China to transform from policy-driven opening to institutional opening. It helps create a fair competitive landscape for businesses of all types of ownership and further widens China's openness.

The lowering of the barriers to foreign investment allows enterprises to enter sectors based on market demand, fostering full competition. This not only enhances consumer welfare but also drives industrial upgrading and improves production efficiency through competitive pressure.

In a market economy, aligning the activities of market entities with national and public interests remains a key institutional challenge. Foreign investment, due to its cross-border nature, often presents additional complexities.

Before the negative list was adopted, the government could exercise pre-establishment control over market entry. Under the negative list system, however, such front-end control has been substantially reduced. This has necessitated stronger in-process and post-establishment regulatory capacity to ensure that all market players comply with the law.

Internationally, most countries that adopt pre-entry national treatment plus a negative list have well-developed regulatory systems. In this sense, implementing and continually shortening the negative list has itself helped improve China's oversight mechanisms and enforcement capabilities.

In recent years, China has enhanced laws and regulations, reformed regulatory institutions, promoted strict and fair enforcement, strengthened oversight in key sectors and improved the efficiency and fairness of dispute resolution. These efforts have raised compliance awareness among market participants — including foreign investors — and strengthened the government's ability to curb unlawful activities.

This, in turn, has cultivated a more orderly and competitive market while boosting consumer confidence. Spurred by the negative list, these achievements have built a robust foundation for public governance — creating a self-reinforcing cycle of greater openness and vigorous economic competition.

The author is the dean of the Institute of Rule of Law at the China University of Political Science and Law.

The views don't necessarily reflect those of China Daily.

If you have a specific expertise, or would like to share your thought about our stories, then send us your writings at opinion@chinadaily.com.cn, and comment@chinadaily.com.cn.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
波多野结衣办公室双飞_制服 丝袜 综合 日韩 欧美_网站永久看片免费_欧美一级片在线免费观看_免费视频91蜜桃_精产国品一区二区三区_97超碰免费在线观看_欧美做受喷浆在线观看_国产熟妇搡bbbb搡bbbb_麻豆精品国产传媒
一区二区三区四区不卡在线| 三级黄色片网站| youjizz.com国产| 免费看黄色的视频| 色网站国产精品| 欧美一卡二卡在线观看| 中文一区在线播放| 午夜精彩视频在线观看不卡| 国产精品 日产精品 欧美精品| 亚洲丝袜在线观看| 国产激情av在线| 欧美蜜桃一区二区三区 | 成人激情电影免费在线观看| 先锋资源av在线| 在线免费观看日韩欧美| 久久久国产午夜精品| 亚洲成人一区二区| 成人免费av在线| 色呦呦国产精品| 一区二区在线观看免费| 国产寡妇亲子伦一区二区| 国产亚洲无码精品| 欧美老人xxxx18| 亚洲欧美一区二区三区国产精品 | 欧美性猛片aaaaaaa做受| 日本一二三四高清不卡| 成人久久视频在线观看| 色婷婷精品大视频在线蜜桃视频| 一区二区三区在线免费播放| 久久久久99人妻一区二区三区| 色综合久久综合网97色综合| 国产欧美日韩久久| 紧缚奴在线一区二区三区| 中文字幕一区二区三区乱码不卡| 在线一区二区三区四区五区| 亚洲欧洲美洲综合色网| 爽好多水快深点欧美视频| 一区二区国产视频| 九九**精品视频免费播放| 免费黄色国产视频| 精品国产乱码久久久久久夜甘婷婷 | 另类成人小视频在线| 日本精品一二三区| 欧美日韩一级视频| 亚洲综合无码一区二区| a级在线观看视频| 国产欧美va欧美不卡在线| 99久久精品国产网站| 国产黄在线免费观看| 中文一区在线播放| 特黄特色免费视频| 精品国产电影一区二区| 不卡的av电影| 色哟哟一区二区| 日韩电影一二三区| 亚洲天堂久久新| 精品国产乱码久久久久久久久| 国产成人av福利| 欧美蜜桃一区二区三区| 国产乱妇无码大片在线观看| 免费看的黄色录像| 国产精品日韩精品欧美在线| 成人动漫视频在线| 日韩三级av在线播放| 久久精品国产精品亚洲综合| 在线观看成人毛片| 一区二区三区在线影院| 中文字幕人妻一区二区三区在线视频| 久久蜜桃av一区精品变态类天堂| 97aⅴ精品视频一二三区| 精品欧美一区二区在线观看 | 精品一区二区三孕妇视频| 亚洲自拍偷拍av| www.超碰97| 国产精品久久久久久久久晋中| 91在线云播放| 久久综合色鬼综合色| 风间由美性色一区二区三区| 91搞黄在线观看| 精品一区二区三区视频在线观看| 欧美网站一区二区| 国产suv精品一区二区三区| 欧美一区二区日韩| 小日子的在线观看免费第8集| 国产日韩欧美精品在线| aaa欧美大片| 91精品国产入口在线| 韩国午夜理伦三级不卡影院| 天天看天天摸天天操| 亚洲一区在线视频观看| 亚洲怡红院在线观看| 毛片一区二区三区| 综合五月激情网| 国产一区二区三区最好精华液| 欧美日韩午夜影院| 不卡av在线免费观看| 日本一区二区免费在线观看视频| 免费看黄色aaaaaa 片| 亚洲国产欧美一区二区三区丁香婷| 亚洲AV无码国产成人久久| 亚洲一区二区三区四区的| 一本到不卡免费一区二区| 国产精品一区二区在线观看不卡| 欧美α欧美αv大片| 水蜜桃av无码| 亚洲福中文字幕伊人影院| 一本高清dvd不卡在线观看| 国产成人小视频| 国产午夜精品久久久久久久 | 色爱区综合激月婷婷| 国产高清成人在线| 久久久噜噜噜久久中文字幕色伊伊 | 69av视频在线| 丰满白嫩尤物一区二区| 久久精品夜色噜噜亚洲aⅴ| 五月天综合视频| 美女精品自拍一二三四| 日韩三级免费观看| 成人影视免费观看| 蜜臀91精品一区二区三区| 欧美一区二区三区不卡| 国产又粗又猛又色| 日韩va欧美va亚洲va久久| 538prom精品视频线放| 国产精品一区二区无码对白| 亚洲国产精品视频| 久久av无码精品人妻系列试探| 蜜桃视频第一区免费观看| 欧美成人精品二区三区99精品| 三上悠亚影音先锋| 91网站视频在线观看| 色综合咪咪久久| 亚洲欧洲一区二区在线播放| 91九色丨porny丨极品女神| 粉嫩av亚洲一区二区图片| 国产精品久久免费看| 精品一区在线观看视频| av一区二区不卡| 亚洲激情自拍视频| 欧美日韩久久不卡| 久久午夜夜伦鲁鲁片| 美女mm1313爽爽久久久蜜臀| 精品处破学生在线二十三| 2019男人天堂| 国产91色综合久久免费分享| 亚洲三级电影网站| 国产三级aaa| 不卡免费追剧大全电视剧网站| 亚洲精品日韩综合观看成人91| 欧美男女性生活在线直播观看| 日韩网站在线播放| 国产美女精品一区二区三区| 国产精品超碰97尤物18| 欧美视频一区在线| 亚洲精品老司机| 欧美三级电影网站| 国产熟妇搡bbbb搡bbbb| 国产精品99久久久久久似苏梦涵| 国产精品久久久久精k8| 欧美三级欧美一级| 国产美女精品久久| 粉嫩久久99精品久久久久久夜| 亚洲综合精品久久| 欧美va在线播放| 污软件在线观看| 怡红院一区二区| 亚洲人成精品久久久久| 中文字幕日本不卡| 亚洲人妖av一区二区| 欧美午夜精品一区| 瑟瑟视频在线观看| 成人深夜在线观看| 午夜精品一区二区三区三上悠亚| 精品国产乱码久久久久久图片 | 免费中文字幕在线| 性农村xxxxx小树林| 国产一区二区美女| 一区二区三区不卡视频在线观看| 日韩精品中午字幕| 欧美老熟妇乱大交xxxxx| 国产91精品久久久久久久网曝门| 亚洲午夜久久久久久久久电影网 | 美女伦理水蜜桃4| 国产一区二区导航在线播放| 一区二区三区免费网站| 337p日本欧洲亚洲大胆色噜噜| 在线观看视频一区二区欧美日韩| 日韩在线免费观看av| 91麻豆福利精品推荐| 激情六月婷婷综合| 亚洲午夜久久久久久久久电影网| 国产欧美一区二区三区网站 | 青娱乐精品在线视频| 精品国产91乱码一区二区三区| 福利所第一导航| 日本少妇xxxxx| 亚洲美女在线播放| 成人动漫av在线| 狠狠色狠狠色综合| 亚洲成人av一区二区|