On Saturday, China released a shortened negative list to cut restrictions for foreign investment from 95 items in 2017 to 45 this year in its 11 pilot free trade zones. The policy will become effective July 30.

A series of major opening-up measures have been introduced in the 2018 version of the negative list for FTZs, according to a statement jointly released by the National Development and Reform Commission and the Ministry of Commerce.

A negative list is a list of areas where investment is prohibited; all other areas are presumed to be open.

In the agricultural sector, the foreign investment ratio for wheat, new maize variety breeding and seed production has been relaxed from less than 49 percent to no more than 66 percent.

The government removed joint ventures and cooperation limits in oil and natural gas exploration and development, and canceled the prohibition on investing in the smelting and processing of radioactive minerals and the production of nuclear fuel.

The ratio of foreign-invested shares in art performance organizations was also lifted.

In the area of value-added telecommunications, the tested opening-up measures of the Shanghai FTZ will be expanded to all FTZs across the country.