China's Ministry of Commerce said Thursday that the country will continue to relax restrictions to encourage foreign investment.
The country's 2015 catalogue of industries for foreign investment was being revised, and the revision would cancel requirements that foreign investment must be in the form of a joint venture and remove share-holding restrictions in certain sectors, ministry spokesperson Sun Jiwen said at a press conference.
Sun dismissed reports that alleged foreign investors would be required to transfer technology in exchange for market access, saying "Under China's current laws and regulations, there is no requirements for compulsory technology transfer from foreign investors."
China always encourages technological exchange and cooperation between domestic and foreign companies, but the terms of their cooperation were market practice and should not be seen as compulsory technology transfer, Sun said.
