China will eliminate "all its restrictions on foreign investment in the manufacturing sector" and prepare "to open up value-added telecommunications services", such as Internet data centers.
This is what Jin Zhuanglong, Minister of Industry and IT, announced during the annual proceedings of the National People's Congress, the legislative branch of Parliament.
This is one of Beijing's initiatives to attract foreign investments, which have fallen to historic lows.
At the same time, the central authorities have assured that they will commit to creating a business environment based on the law and the repression of financial crimes, according to the work report of the Supreme People's Procuratorate presented to Congress.
Another aspect, then, is that of policies to improve the quality of listed companies, according to what was reported by Wu Qing, president of the China Securities Regulatory Commission (Csrc), aiming at the significant expansion of the coverage of on-site inspections for IPOs, offers public initials.
The Chinese Consob, in other words, is collaborating with the relevant departments to build "a comprehensive system of punishment and prevention of illegal activities, such as financial fraud, misappropriation of interests of listed companies and unauthorized reduction of shares", Wu explained.
The focus is on those who reduce their holdings through illegal means, such as fake divorces and short selling.
While companies that have not paid out dividends for several years or have a low payout ratio could also be subject to restrictions, including the reduction of shares for controlling shareholders and the implementation of warnings on the risks of special treatment.
According to Wu, China will continue to prosecute fraudulent activities, market manipulation and insider trading, holding controlling shareholders, effective controllers, executives and junior relativists accountable.
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