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China’s Stance on Market Access for Foreign Investment with Regard to China’s Readiness to Enter CPTPP: A Review of the Negative List in Both CPTPP and RCEP Member Countries (No.31, 2021)
2021-04-12
By Zong Fangyu, Research Department of Foreign Economic Relations, DRC
Research Report, No.31, 2021 (Total 6096) 2021-3-4
Abstract: China has expressed its positive consideration for entry into Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and China’s market access for foreign investment will be the focus issue of coming negotiations. Some developed countries such as Japan, Australia and New Zealand and some developing countries like Singapore, Vietnam and Malaysia are members of both CPTPP and RCEP (the Regional Comprehensive Economic Partnership) though the economic development of these countries stays at different levels. A comparison of the opening up level for foreign investment aiming at investment liberalization of these countries in the two agreements makes good reference for China in formulating negotiation plans for its entry into CPTPP. Compared with the negative list of CPTPP, the RCEP negative list in developing countries bears different characteristics with a tangible low level of openness. These countries mentioned above have a significantly lower level of openness in the service industry of RCEP and they have reserved more market access supervision rights by increasing the number of non-conforming measures, level management means, and more obligations involved in market admittance. China’s opening-up level for foreign investment in RCEP is not yet that high compared with investment opening-up level in CPTPP member countries. We need to increase comparative analysis and make systematic study on ways of market access for foreign investment before China’s accession to CPTPP in a bid to further improve China’s competitiveness in going global.
Keywords: CPTPP, RCEP, member countries of both organizations, market access for foreign investment, China
