China to open range of service sectors to foreign investment

BEIJING (AP) — The Chinese government says it will ease restrictions on foreign investment in sectors ranging from banking and internet services to rail equipment and motorcycles, in response to mounting complaints from foreign business groups and governments.

An official with China’s National Development and Reform Commission, the economic planning agency, said Friday that for the first time, service sectors such as accounting and auditing, architectural design and ratings services will be open to foreign investment.

The moves are part of a set of guidelines approved by China’s Cabinet this week Beijing says are aimed at leveling the playing field for foreign companies and boosting investment, which has been slowing.

No specific details were immediately released.

U.S. and European business groups and governments have complained that China’s restrictions on foreign investment are unfair.

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