SHANGHAI (Reuters) – China will lift restrictions on foreign investment in a number of service activities, including e-commerce, logistics, accounting and auditing, announced the Minister of Commerce, Gao Hucheng, quoted by China Securities News.
Beijing will also promote the orderly opening of other service sector business fields such as finance, education, culture and health, the minister said without providing further details or timetable.
The amount of trade in services will exceed 1,000 billion in China by 2020, predicted Gao Hucheng. The Ministry of Commerce had previously estimated that the trade in services account for more than $ 750 billion in 2016.
Bilateral discussions should take place in early June between China and the United States should urge Beijing to open up growth areas in China to American investment.
The Obama administration is negotiating a bilateral investment treaty with China and US negotiators still waiting for the list of sectors that Beijing wants to exclude an agreement.