China will relax or cancel restrictions on foreign investments in sectors including energy and transportation by June 30 in a bid to meet a key U.S. demand amid ongoing trade negotiations between Beijing and Washington, the Financial Times reported, citing China's commerce ministry.
Earlier this month, the U.S. urged China to issue "an improved nationwide negative list," which identifies sectors off limits to foreign investors, by July 1.
The commerce ministry's announcement came ahead of the third round of trade talks between China and the U.S and was the latest in a string of measures announced by Beijing amid efforts to finalize an agreement with the U.S. that would increase exports of American goods.
On May 30, China said it would reduce import tariffs on a range of consumer goods effective July 1. A week before that, the country announced that it would slash import duties on vehicles.
The U.S. threatened May 29 to impose 25% tariffs on $50 billion of goods imported from China.
