context: Services trade is identified as a key growth area in the 2024 government work report. It is also a key area in need of further opening up and reform in the PRC's 'institutional opening' vision to align with international standards. Accounting for around half of the nation's GDP, the services sector is expected to open up further and continue to grow.
In answering journalists' questions, a MofCOM (Ministry of Commerce) spokesperson unpacked the new national and FTZ (free trade zone) negative lists for cross-border services trade, including
- the significance of the two lists
- demonstrate the PRC's
- commitment to aligning with high-standard international trade rules and promoting 'institutional opening'
- willingness to share development opportunities with the world
- it is the first time the PRC uses an integrated negative list approach to regulate cross-border services trade on a national level
- this raises transparency and predictability for the industry
- in the past, the PRC
- mainly uses positive lists in international agreements to grant other parties market access or national treatment
- has access measures scattered in various industries and regulatory regimes
- the lists are based on the results of rules exploration in the Hainan FTP (free trade port)
- demonstrate the PRC's
- further opening up in the FTZs
- relaxed restrictions on vocational qualifications for natural persons
- allowing foreign talents to sit six types of exams, including
- urban and rural planners
- real estate appraisers
- auctioneers
- registered survey and design engineers
- veterinarians
- registered supervision engineers
- allowing foreign talents to sit six types of exams, including
- finance
- adopted some measures already piloted in the Hainan FTP
- allow qualified foreigners to open securities and futures account
- allow qualified foreigners to apply to engage in securities investment and futures trading advisory business
- adopted some measures already piloted in the Hainan FTP
- professional services
- removes the restrictions on businesses established outside the PRC to engage in customs declaration business
- overseas service providers can provide customs declaration services to entities in the pilot FTZs in a cross-border manner
- removes the restrictions on businesses established outside the PRC to engage in customs declaration business
- culture
- relaxes the restriction on the proportion of key Chinese personnel in PRC-foreign co-produced TV dramas
- from not less than one-third to not less than one-fourth
- relaxes the restriction on the proportion of key Chinese personnel in PRC-foreign co-produced TV dramas
- relaxed restrictions on vocational qualifications for natural persons