• Follow us

Economy

China promises to ease foreign access to gas

AP

Beijing, July 1: China promised Sunday to allow more foreign ownership of gas pipelines, call centres and some other businesses in the latest of a series of market-opening measures.

The Communist Party has announced a series of tariff cuts and market-opening steps over the past 18 months aimed at making its state-dominated economy more productive. The moves come amid trade tension with Washington, though none directly addresses American complaints about Beijing’s technology ambitions and controls on foreign companies.Sunday’s Cabinet announcement also promised more foreign access to some businesses in agriculture and mining.Business groups welcome the changes but say many have little effect so far on foreign companies. Business groups say they need to see regulations for industries that are to be opened before they can know whether those will be profitable for foreign newcomers, who will face entrenched Chinese competition.Sunday’s announcement is part of a shift by Beijing to use of a “negative list” system of investment regulation. That would put some areas off-limits to foreign investors and leave the rest of China’s market open. Until now, foreign companies have been limited to operating in a “positive list” of areas picked by regulators.Economists say Beijing’s market-opening measures reflect growing confidence Chinese companies can compete and a recognition of the need for more competition.President Xi Jinping’s government has launched a flurry of such reform initiatives since he was confirmed for a second five-year term as ruling party leader in 2017.Xi had been expected to launch economic changes after he took power in 2012. Instead, he spent his first term directing a marathon anti-corruption campaign and cementing his status as China’s most powerful leader in decades while pressure to shore up declining economic growth mounted.Beijing’s tariff fight with Washington over Chinese technology ambitions has battered exporters, adding to pressure on the ruling party to make other industries more productive.Sunday’s announcement promised to abolish a requirement that ventures to operate gas and thermal pipeline networks in cities of more than 500,000 must be controlled by the Chinese side.It promises similar changes for ownership of cinemas, call centres and some other value-added telecom businesses. It promised to abolish rules that say foreign investors in oil and gas exploration must operate through joint ventures with Chinese partners.Rules that prohibit foreign investment in exploration and mining of molybdenum, tin, antimony and fluorite will be abolished, the statement said.Beijing previously promised to reduce or end limits on foreign ownership in China’s auto, insurance and other industries.

PrintRead More



Leave A Comment

More News

The Rising Nepal | Business

PM Oli tells NAC to improve management efficiency 2019-07-01 20:00:00By A Staff Reporter Kathmandu, July 2: Prime Minister KP Sharma Oli on Monday underlined the urgency of improving the management of Nepal Airlines Cor

Online trading begins at NEPSE 2019-07-01 20:00:00By A Staff Reporter Kathmandu, July 2: Following the implementation of the fully automated online trading system in Nepal Stock Exchange, share invest

Karnali linked to NT’s FTTH service 2019-07-01 20:00:00  By A Staff Reporter Kathmandu, July 2: Nepal Telecom (NT) Monday formally launched its fibre to the home (FTTH) service in Karnali State. With

Compensation issue puts brake on Bardibas-Janakpur-Jayanagar railway project 2019-07-01 20:00:00By Gopal Prasad Baral, Bardibas, July 2: Implementation of the Bardibas-Janakpur-Jayanagar railway expansion project is being pushed towards uncertain

China promises to ease foreign access to gas 2019-06-30 20:00:00  AP Beijing, July 1: China promised Sunday to allow more foreign ownership of gas pipelines, call centres and some other businesses in the lates

OECD-SEBON conference, roundtable on July 2 2019-06-30 20:00:00By A Staff Reporter Kathmandu, July 1: The Securities Board of Nepal (SEBON) is organising a OECD-SEBON conference and roundtable on financial consume

Tuladhar elected chair of Nepal-China Industry and commerce 2019-06-30 20:00:00Kathmandu, July 1: Tribhuvandhar Tuladhar has been elected as the chair of Nepal-China Industry and Commerce Association. The 20th AGM of the Associat

Agro sector to be made attraction to youths: 2019-06-29 20:00:00Bardiya, June 30: The national paddy plantation day has been marked at Rajapour of the district today. The function was inaugurated by the Minister fo

40 per cent paddy plantation in Baitadi 2019-06-29 20:00:00Baitadi, June 30: The paddy plantation has been completed in 40 per cent of the total arable land in the district, according to Agriculture Informatio

Industrialists in Birgunj unhappy with Scrap Tax 2019-06-29 20:00:00  By Our Correspondent Kalaiya, June 30: Industrialists in Birgunj-Pathalaiya Industrial Corridor are unhappy with Jitpur-Simara Sub-Metropolita

Huawei founder says revenue will be billions below 2019-06-16 20:00:00SHENZHEN, China, June 17 (AP) — Huawei’s founder likened his company to a badly damaged plane Monday and said revenues will be $30 billion

Deliberations on appropriation bill 2019-06-16 20:00:00Kathmandu, June 17: Lawmakers have opined that brain drain, unemployment and trade deficits have hurt the country. While taking part in the deliberati

Reuters: Business News

Pricier grills but cheaper meat: how Trump's trade 2019-07-03 18:25:59U.S. consumers likely paid more for grills to cook their Independence Day hot dogs and burgers this year because of the U.S.-China trade war, but they

U.S. reviews export requests to Huawei with 'highest 2019-07-03 18:13:05The U.S. government said on Wednesday it was reviewing license requests from U.S. companies seeking to export products to China's Huawei Technologies

Amazon can be held liable for third-party seller 2019-07-03 17:34:47A federal appeals court on Wednesday ruled against Amazon.com Inc in a case that could expose the online retailer to lawsuits from customers who buy

Boeing pledges $100 million to help 737 MAX 2019-07-03 16:43:21Boeing Co said on Wednesday it would give $100 million over multiple years to local governments and non-profit organizations to help families and comm

Major averages close at record highs on dovish 2019-07-03 16:11:52U.S. stocks rose on Wednesday, with each of the major indexes closing at a record high, as expectations grew that the Federal Reserve would take a mor

U.S. judge blocks Qualcomm effort to put antitrust 2019-07-03 16:04:35A U.S. judge on Wednesday ruled against Qualcomm Inc's effort to block the implementation of a sweeping antitrust ruling against it as the mobile ch

Facebook, privacy activist Schrems face off in July 2019-07-03 15:33:52Facebook will face Austrian privacy activist Max Schrems next week at Europe's top court in a landmark case that could affect how hundreds of thousan

Oil prices climb as U.S. equities rally, rig 2019-07-03 15:05:38Oil prices edged higher on Wednesday ahead of a U.S. holiday, after falling steeply a day earlier as worries about a slowing global economy outweighed

Arizona cancels incentive for Nike plant after 'terrible 2019-07-03 14:19:37Arizona's governor on Tuesday withdrew a $1 million incentive for Nike Inc to build a plant in the state after the world's largest sportswear maker

U.S. trade, services industry data underscore slowing economy 2019-07-03 13:51:27The U.S. trade deficit jumped in May and trade tensions between the United States and China helped drive activity in the services sector to a two-year

Asda boss sees possible stock market listing in 2019-07-03 13:49:44The timescale for a possible stock market listing of British supermarket group Asda, by its U.S. parent Walmart , is two to three years, Asda's boss

Global stock markets, bonds rally in expectation of 2019-07-03 13:22:38Record low bond yields in Europe and the expectation of further interest rate cuts by central banks worldwide helped push global stock market indices

Christian Science Monitor |

Why this company wants your old underwear 2019-06-17 17:10:46Will recycling textiles save the planet? Buying less and wearing your clothes longer might accomplish more.

Farmers caught between a flood and a trade-war 2019-06-17 17:10:46A $19.1 billion disaster aid package won't include much help for Midwestern farmers who can’t plant. Meanwhile a trade war puts farm

Why tariff threat is unsettling – even after 2019-06-17 17:10:46The threat of Mexican tariffs is off for now. But it could return – and the weaponization of tariffs may not be in the long-term interest of the

One group not happy about older workers: young 2019-06-17 17:10:46Americans under 50 believe the rising number of older workers hurts the economy, a recent poll shows. Longer and healthier life spans have allowed mor

Robot baristas in South Korea push automation forward 2019-06-17 17:10:46South Korea's coffee scene has a new face: robotic baristas. While automation raises concerns that finding entry-level jobs will become har

SEC moves to require brokers to reveal conflicts 2019-06-17 17:10:46In the past, not all financial advisers were legally required to put clients' interest first. But some say the new measure by federal regulators does

Medicare for all – why supporters can’t agree 2019-06-17 17:10:46Support for single-payer health care seems to have risen over the past year or so, but such a plan presents complex, and controversial, choices.

Where is workforce really booming? Among the oldest 2019-06-17 17:10:46McDonald’s wants to hire 250,000 senior workers. A CVS program avows that ‘Talent is Ageless.’ And nationwide the ranks of older wor

Car trouble: How symbol of freedom became a 2019-06-17 17:10:46A record 7 million Americans are 90 days or more delinquent on car loans, a new report finds. U.S. auto debt is also at a record: $1.28 tril

Uber’s founders have cashed in. How about the 2019-06-17 17:10:46Uber relies on an army of drivers whom it refuses to call employees. But some see its “Partner Protection” plan as a model for the gig eco

As US-China trade war ramps up, how will 2019-06-17 17:10:46China-made goods will cost Americans more, as President Trump presses Beijing for trade-talk concessions. By July tariffs may hit cellphones, shoes.

Walmart follows Target to enter retail shipping wars 2019-06-17 17:10:46The nation's largest retailer joins the next-day shipping competition. Walmart has one big advantage over Amazon – its more than 4,700 sto

Business News - UPI.com

Pentagon seeks ideas for small military space station 2019-07-03 15:05:01 The Defense Innovation Unit of the Pentagon announced a call for ideas for a small, autonomous military space station this week.

U.S. calls Chinese missile tests in South China 2019-07-03 14:05:10 The Pentagon on Wednesday condemned weekend missile tests by China in the contested South China Sea.

Leidos Inc. awarded $66.7M for Air Force Research 2019-07-03 13:40:20 Leidos Inc. received a $66.7 million contract with the U.S. Air Force to develop sensors and sensor systems for intelligence, surveillance, reconnais

U.S. Air Force activates Medical Readiness Agency 2019-07-03 13:34:10 The U.S. Air Force has activated a new field operating agency, the Medical Readiness Agency, to concentrate on ensuring its hundreds of thousands of

Cindy McCain honors late husband aboard USS John 2019-07-03 12:36:13 Cindy McCain was given a ceremonial commissioning banner at a change-of-command ceremony aboard the USS John McCain.

Frequentis Defense gets $8.4M contract for work on 2019-07-03 12:17:30 Frequentis Defense Inc. received an $8.4 million U.S. Navy contract for work on the MQ-25 Stingray unmanned air vehicle, the Defense Department annou

Navy sends second ship to Gulf of Guinea 2019-07-03 12:10:30 The U.S. Navy has dispatched a second ship, the USNS Carson City, this year to the Gulf of Guinea in West Africa.

Sikorsky nets contracts worth $28.8M for King Stallion 2019-07-03 11:52:03 Sikorsky received two contracts valued at $28.8 million for CH-53K King Stallion work, including replacement of computer systems on production aircra

Homeland Security chief orders investigation into border agents' 2019-07-03 11:16:38 Acting Homeland Security Secretary Kevin McAleenan said Wednesday he's ordered an investigation into a secret Facebook group for Border Patrol agent

Lockheed awarded $348.2M for F-35 Lot 12 production 2019-07-03 10:34:41 Lockheed Martin was awarded $348.2 million for Lot 12 low-rate initial production of the F-35, while Pratt & Whitney reportedly is working to cor

Norfolk Naval Shipyard breaks ground on production training 2019-07-02 12:10:17 Norfolk Naval Shipyard conducted a groundbreaking ceremony for a 157,000-square-foot, $64.7 million production training facility.

Navy turns to outside experts to fix Ford 2019-07-02 11:54:14 The U.S. Navy is relying on an independent team of experts for a "full court press" to overcome problems with the advanced weapons elevators aboard

Home Page

From ICICI to Axis: Private banks cut deposit 2019-06-17 13:11:02ICICI Bank is understood to have cut its fixed deposit rates by 0.10-0.25 per cent starting from Monday

Amazon India is the country's most attractive employer 2019-06-17 12:47:34According to the REBR 2019, Amazon scored high on financial health, utilisation of latest technologies and a strong reputation

WI vs BAN LIVE ICC CWC 2019: Shakib 2019-06-17 12:43:59Bangladesh won the toss and put West Indies to bat first. Shai Hope missed his century while Shimron Hetmyer hit a quick-fire fifty as Windies posted

DCC asks Trai to review Rs 3,050 crore 2019-06-17 12:20:10Both Airtel and Vodafone Idea have recently concluded their rights' issues to pare debt

HDFC MF takes Rs 500 crore of Essel 2019-06-17 12:19:12Investors of FMPs maturing before expiry of 'standstill' agreement allowed to exit.

J P Nadda appointed BJP working president, Amit 2019-06-17 12:04:35Shah's tenure ends in December 2019 and he may not like to get an extension as the party has principal of 'one man, one post', sources said

IndiGo moves away from Pratt & Whitney, places 2019-06-17 11:39:48CFM International will deliver the first engine by 2020

India Inc's advance tax mop-up surges 171% in 2019-06-17 11:15:48Mumbai collected Rs 17,174 crore of advance taxes against Rs 7,356 crore in the same period last year, according to data compiled by the tax dept.

Over and out for Jet Airways as lenders 2019-06-17 10:57:25State Bank of India and other lenders will refer the airline to NCLT later this week

Sotheby's sold for $3.7 billion to telecom billionaire 2019-06-17 10:24:36Sotheby's is returning to private ownership after 31 years as a public company.

Fitch cuts India's GDP growth forecast to 6.6% 2019-06-17 09:23:59In the last fiscal, Indian economy grew at a 5-year low pace of 6.8%

West Bengal doctors to call off strike as 2019-06-17 09:19:38A formal announcement on withdrawal of the strike is likely to be made from the epicentre of the protest, the NRS Medical College and Hospital


Disclaimer and Notice:WorldProNews.com is not responsible of these news or any information published on this website.