Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 12 JANUARY 2022

China's New Negative List For Foreign Direct Investment

WilmerHale
WilmerHale
Contributor
WilmerHale

WilmerHale

WilmerHale's London office was established more than 40 years ago. With lawyers qualified in the...

View firm profile
Explore more from WilmerHale

On December 27, 2021, the NDRC and the Ministry of Commerce jointly issued the Special Administrative Measures (Negative List) for Foreign Investment Access (2021 Edition)...

ChinaGovernment, Public Sector
Lester Ross
Lester Ross
Kenneth Zhou
Kenneth Zhou
Author LinkedIn connections

On December 27, 2021, the National Development and Reform Commission ("NDRC") and the Ministry of Commerce jointly issued the Special Administrative Measures (Negative List) for Foreign Investment Access (2021 Edition) (外商投资准入特别管理措施(负面清单)(2021年版)) (the "2021 FDI Negative List").1 The 2021 FDI Negative List replaced the 2020 edition (promulgated on June 23, 2020) and took effect on January 1, 2022.

Relationship between Different Negative Lists

The Chinese government maintains three distinct negative lists, the Negative List for Market Access (市场准入负面清单) 2 (the "Negative List"), the Special Administrative Measures (Negative List) for Foreign Investment Access (外商投资准入特别管理措施(负面清单)) (the "FDI Negative List"), and the Special Administrative Measures for Foreign Investment Access in Free Trade Pilot Zones (自由贸易试验区外商投资准入特别管理措施(负面清单)) 3 (the "FTZ FDI Negative List").

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Article

In-Depth Analysis Of State Council Order No. 841: Who Will Be Affected By The New Exit And Entry Administration Rules?

China's new exit and entry regulations introduce significant changes affecting technical personnel, individuals with cross-border assets, public officials, and intermediary service providers. The provisions strengthen authenticity reviews, connect technology export controls with travel restrictions, and establish a comprehensive framework for managing cross-border movement while balancing national security with legitimate international activities.
ChinaGovernment, Public Sector
Han Kun Law Offices
Han Kun Law Offices
Article

Bipartisan Senate Bill Would Prevent “Offshoring Biotech Industry To Communist China”

Senators Pete Ricketts and Elissa Slotkin have introduced bipartisan legislation that would subject American investments in adversary biotechnology to federal review requirements. The Biotech Investment National Security Act would amend the COINS Act to include pharmaceutical and biological product development in the list of sectors requiring Treasury Department screening for outbound investments to countries of concern, particularly China.
ChinaGovernment, Public Sector
Bergeson & Campbell
Bergeson & Campbell
Article

China Links Export Controls To Exit Bans: What State Council Order No. 841 Means For Multinational Companies

China's new immigration regulation introduces a significant provision allowing exit bans on Chinese citizens who violate export control or technology transfer rules that may endanger national, industrial, or technological security. This development creates potential complications for multinational companies operating in technology-intensive industries, as Chinese employees, engineers, researchers, or executives could be barred from departing China without prior notice, affecting cross-border mobility, joint
ChinaGovernment, Public Sector
Greenberg Traurig
Greenberg Traurig
Article

PTAB/USPTO Update - October 2026

The USPTO has released new templates and guidance for AIA trial proceedings, announced key appointments including a Chief AI Officer, and published updated procedures for patent applications and subject matter eligibility declarations. Director Squires delivered multiple addresses emphasizing the constitutional importance of intellectual property rights while the agency expanded its community engagement efforts and international collaboration through WIPO's Global IP Assignment Platform pilot program.
United StatesIntellectual Property
WilmerHale
WilmerHale
Article

23x5 Trading Comes To US Exchanges: What Firms Should Know Before Launch

US national securities exchanges are preparing to launch 23x5 trading by December 6, 2026, marking the most significant expansion of trading hours in decades. This comprehensive analysis examines the regulatory approvals, operational infrastructure changes, investor protection mechanisms, and issuer considerations necessary to support overnight equity trading from Sunday through Thursday evenings.
United StatesFinance and Banking
WilmerHale
WilmerHale
Article

SEC Approves FINRA’s New “Outside Activities” Rule

The Securities and Exchange Commission has approved FINRA Rule 3290, which will replace existing rules governing outside business activities and private securities transactions for registered persons. This new rule narrows the scope to focus on investment-related activities while maintaining similar supervisory obligations for member firms. Understanding the key changes and implementation requirements will be critical for broker-dealers as they update their compliance policies and procedures.
United StatesFinance and Banking
WilmerHale
WilmerHale
Article

Lame Duck, High Stakes: Congress’s Postelection Agenda

As Congress prepares for its postelection lame-duck session, lawmakers face critical decisions on government funding, defense authorization, and potential debt-limit increases. The election outcome will determine whether Republicans push through major legislation before potentially surrendering control, or whether both parties defer negotiations into 2027. With permitting reform, tax extenders, and reconciliation packages on the table...
United StatesGovernment, Public Sector
WilmerHale
WilmerHale
Article

California Adopts Law To Impose New Guardrails On Attorneys And Arbitrators Use Of AI

California's new SB 574 establishes the first statutory framework governing attorneys' and arbitrators' use of generative artificial intelligence, imposing verification requirements and disclosure obligations that take effect in January 2027. The law responds to recent court sanctions for AI hallucinations while leaving unresolved critical questions about privilege, work-product protection, and the boundaries between permissible assistance and impermissible delegation.
United StatesCorporate/Commercial Law
WilmerHale
WilmerHale
Article

SEC 2027 Exam Priorities: Familiar Priorities, Evolving Markets

The SEC Division of Examinations has released its fiscal year 2027 examination priorities, signaling continued focus on investment adviser fiduciary obligations, broker-dealer financial responsibility, and Regulation Best Interest while adapting to evolving market practices. Private credit, artificial intelligence governance, and retail investor protection emerge as prominent areas of scrutiny, with examiners expected to probe valuation practices, conflicts of interest, and technology controls across regula
United StatesFinance and Banking
WilmerHale
WilmerHale
Article

Section 232 Pharmaceutical Tariffs Are Now In Effect: It’s Not Too Late To Consider Duty-Mitigation Strategies

On September 29, 2026, the final phase of Section 232 pharmaceutical tariffs took effect, imposing an additional 100 percent ad valorem duty on many imported patented pharmaceuticals and ingredients. While these duties may substantially increase import costs, several customs and trade mechanisms may be available to reduce, eliminate, or defer the tariffs.
GlobalInternational Law
WilmerHale
WilmerHale
Article

The SEC’s Transfer Agent Modernization Proposal: Implications For Onchain Recordkeeping

The SEC has proposed a comprehensive overhaul of transfer agent regulations that would formally recognize distributed ledger technology and blockchain-based recordkeeping systems within the existing regulatory framework. This modernization effort imposes enhanced operational, safeguarding, and compliance obligations while establishing technology-neutral standards that could significantly impact tokenization initiatives and digital asset market infrastructure.
United StatesFinance and Banking
WilmerHale
WilmerHale