PENT, promoted as a measure to attract FDI, allows foreign investment on equal terms to domestic capital, and is widely piloted in Free Trade Zones. A ‘negative list’ of restricted sensitive areas is often appended. Long promoted by the USA in its FTA negotiations, PENT was first rejected by China, then embraced in 2013. But doubts remain among Chinese analysts over legal status and rights. In the image the hat depicts foreign capital 外资, the sign points to the Chinese market 中国市场.