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The list of sectors that require joint ventures and majority Chinese ownership has been decreasing over time. Most sectors do not have such restrictions nowaday
by DiogenesKynikos 6y ago
The list of sectors that require joint ventures and majority Chinese ownership has been decreasing over time. Most sectors do not have such restrictions nowadays.
For several decades, there has been a general trend - which was greatly accelerated by China's WTO accession - of barriers to trade decreasing in China. In popular discussions of China's trade and economic policies in the West, there's rarely any recognition of this fact.
Average tariffs have been reduced to about 3.4%, which is about the same level as the US applied as recently as the mid-1990s. Much of the state sector was privatized and the majority of the economy is now private. Intellectual property enforcement is way up - it's been completely overhauled in just the last 6 years, with specialized courts set up and a very large volume of IP cases being heard every year now. There have been huge changes, which most of the public in the West has little to no idea bout, and which find no reflection in the popular discussion.