CHINA SYSTEM · OPERATING LOGIC
Read the concept through its operating structure
There is more than one negative list
The market-access list applies to all operators, while the foreign-investment list adds restrictions for foreign capital; FTZs and Hainan may use separate lists.
Outside the list does not mean licence-free
Telecoms, health, education, finance, internet culture and mapping may still need sector licences. Incorporation, registered scope and lawful service delivery are different evidence.
Security review is not only about equity
Investment security review examines control and national-security effects in critical agriculture, energy, equipment, infrastructure, transport, culture, IT and technology.
China opens through lists and pilots
The 2024 national foreign-investment list removed manufacturing restrictions and fell to 29 measures, while many service openings remain scoped pilots.
Korean firms need an evidence ledger
Korean firms should join ownership, business classification, licences, data flows, standards, employment, tax and pilot conditions in one evidence ledger.