China says it will open e-commerce, logistics to foreign inv
CHINA plans to lift restrictions to investments by foreign firms in a range of service industries, including e-commerce, logistics, accounting and auditing, says Commerce Minister Gao Hucheng.
Mr Gao said China would also promote the orderly opening of other service fields including finance, education, culture and health care, reported China Securities News.
He expected trade in services would exceed US$1 trillion by 2020 and the value of China's services trade would exceed $750 billion this year.
The Chinese government has been attempting to guide the economy away from a reliance on investment and exports to one largely orientated towards services and underpinned by domestic demand.
Mr Gao's were time to recent bilateral meetings between China and the United States. The Obama administration is negotiating a bilateral investment treaty with China, and US negotiators have said they are still awaiting a new "negative list" of sectors that Beijing wants to keep off limits.
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