China's foreign investment negative list restricts only a shrinking set of sectors: manufacturing restrictions were fully removed in 2024; remaining limits concentrate in media, education, some telecom/finance and cultural areas. Everything not listed is open.
Current state: (1) 2024 national list removed the last manufacturing restrictions (including automotive NEV limits) — manufacturing is now fully open. (2) Remaining restrictions: prohibited — tobacco, rare earth smelting, some cultural/media; restricted (JV or capital limits) — certain value-added telecom, education, medical institutions, news services. (3) Free trade zones pilot further opening (e.g., FTZ telecom/healthcare pilots). (4) Hainan Free Trade Port has its own more-open list. (5) Below-threshold investments in non-listed sectors: pure filing. Practical check: match your exact business scope (SIC-like classification) against the list BEFORE choosing a JV partner — many 'required JV' beliefs are outdated.
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