China released revised guidance for foreign investment on Friday, relaxing many restrictions on overseas companies.

"The catalogue of industries to guide foreign investment" issued by the National Development and Reform Commission in conjunction the Ministry of Commerce, opens more areas, mainly services and manufacturing, to foreign business with lower thresholds.

Now in its sixth version, the catalogue consists of three parts: industries where foreign investment is encouraged, restricted and banned.

The latest revision more than halves the number of industries with restrictions from 79 to 38.

Industries in which Chinese investors must hold stakes were axed from 43 to 15, and those demanding Chinese investors to hold controlling stakes from 44 to 35.

Foreigners are barred from 36 industries, compared from 38 in the previous version.

Industries where foreigners are encouraged to put money in remain largely unchanged.

Foreign investors are allowed to do business in all industries not listed in the catalogue. Endi

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