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In 2019, China will promote the introduction of the "Foreign Investment Law" as soon as possible, and promote the elimination of access restrictions on foreign investment in areas other than the negative list, and achieve the same standard of foreign investment in market access.


With the continuous improvement of the level of domestic opening up, the foreign business environment has been fully optimized in recent years. Following the reduction of the restrictive measures of the 2017 edition of the Foreign Investment Industrial Guidance Catalogue to 63, the 2018 edition of the Special Management Measures for Foreign Investment Entry ( The negative list) further reduced the above restrictive measures to 48.


In 2019, China will promote the introduction of the "Foreign Investment Law" as soon as possible, and promote the elimination of access restrictions on foreign investment in areas other than the negative list, and achieve the same standard of foreign investment in market access.


BASF recently announced that it will build a second integrated petrochemical base in China in Zhanjiang City, Guangdong Province. This is BASF's first wholly-owned integrated petrochemical project in China, with a total planned investment of 10 billion US dollars.


Coincidentally, in September 2018, Exxon Mobil and Saudi Basic Industries also signed a memorandum of cooperation on cooperation with Guangdong Province and Fujian Province.

 

In recent years, with the comprehensive optimization of the domestic and foreign business operators' environment and the continuous deepening of the upstream market-oriented reform process, China, as the world's largest chemical market, has attracted global peers, and many internationally renowned petroleum and petrochemical companies have actively increased their layout. In the market, major foreign investment projects have shown a trend of “multiple blossoms”.


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