China to Ease Ownership Rules on Oil Exploration, City Gas
- National Development and Reform Commission updates its list
- Easing comes one day after U.S. and China strike trade truce
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China is easing foreign access to a range of industries including oil, mining and city gas pipelines as the government follows through on pledges to open up to overseas investors.
China will scrap the need for joint ventures in oil and gas exploration, and for domestic control of gas networks in cities with more than 500,000 people, the National Development and Reform Commission said on its website Sunday. The statement formed an update to the commission’s so-called negative list of industries where overseas investors are restricted or banned.