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China on Monday unveiled a nationwide negative list for 2021 – in a move that observers called “a signature and phased step in high-level opening-up of the economy” – that drastically reduced barriers for foreign investment for five years in a row, with a full scrapping of restrictions on foreign ownership in passenger cars and a further easing in foreign investment in the production of key communications equipment.

China is on full throttle to becoming a new highland in reform and opening-up.

Pilot free trade zones, a test field for deepening reforms and furthering opening-up, are expected to have higher-level opening-up and more breakthroughs in institutional innovations in the coming years, government officials and experts said.

Pilot free trade zones, a test field for deepening reforms and furthering opening-up, are expected to have higher-level opening-up and more breakthroughs in institutional innovations in the coming years, government officials and experts said.

China entered the World Trade Organization 20 years ago, becoming its 143rd member. That was a historic starting point as it has reshaped China as well as the world economy.