After the G20 summit is over and the US-China tempted discussion as started to lift up the trade war calamity, US showed their first attempt to resolve the thing with lowering tariffs on China exports and releasing Huawei the right to get production items from the US. So, it was the time for China to show its own reaction and the first step towards that has come out in the form of showing some soft mentality and allowing 8 industrial sectors for foreign investment.
As a matter of fact, China concealed its market from foreign investments for years and that has been confined to 48 segments of the industry in the last few years. However, different areas like cinemas, restaurants, and others were in the list and in those segments, China didn’t allow any foreign investments. Now in a declaration for the finance department of the company, some softness has been shown and 8 of the segments, which are new and that are related to entertainment mostly are opening up their gate for foreign investment.
This is great news for the US and even the European nations that they can now invest in the China market and explore the 1.2 billion population of the nation. However, the experts from the different countries are seeing and eyeing no good news from this as they have to say that – the entertainment world of China is confining the taste and the preference of the Chinese and they are so much passionate about those things that past attempts to impose foreign cultural aspects in the nation failed totally. According to them, China has made a great attempt to show its softness, but have chosen the areas, where the global companies will find it extr5emely difficult to penetrate the country’s business arena.