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The updated negative list for foreign investment in China will be released as soon as June 30, with the furthering opening up of the country’s financial, automobile and energy sectors, Economic Information Daily reported.

The new list is expected to live up to what the Chinese government has promised. For example, the State Council executive meeting on Wednesday confirmed to cancel or relax restrictions on foreign investment in manufacturing industries such as autos, ships and aircraft.

Meanwhile, the government also plans to actively introduce foreign traders to take part in futures transactions of crude oil and iron ore, and support foreign financial institutions to participate more in local government bond underwriting.

The new negative list will definitely be shorter than the previous version, said Bai Ming, deputy director of the International Markets Research Institute under the Ministry of Commerce. Following several rounds of reductions previously made to the list, the subsequent cut of the list is getting harder, Bai added.

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