China relaxes gas, oil investments amid trade war truce

Following restart of trade talks with the US, China eases its restrictions on foreign investment in key sectors including oil and natural gas development.

Read: US offers olive branch to China in trade deal truce

Every year, China releases a list outlining industries where foreign investments are restricted. This year, the list reflected 20% fewer restrictions, according to reports.

While rare-earth elements, nuclear power, broadcasting and a few other areas remained on the latest list,  which is due to take effect on 30 July, sectors such as hydrocarbon exploration and development, natural gas provision in cities with over 500,000 population,  and the exploration and mining of some minerals such as steel additive, molybdenum have been scrapped off. Nevertheless, China’s National Development and Reform Commission implied that foreign companies seeking to invest in the country are still required to apply for approval.

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