The Negative List in China—Causation, Content and Implication
Chan-ting CHEN1, a, *
1No. 555 Longyuan Road, Songjiang District, Shanghai, China
achenchanting@126.com
* Corresponding author
Keywords: Negative list, Free Trade Zone, China, Foreign investment.
Abstract. This paper introduces current prevalent situation of the negative list in the field of international investment. It discusses that the Trans-Pacific Partnership Agreement and the China-U.S. bilateral investment treaty negotiation directly promote the reform of Chinarsquo;s foreign investment regulation. The paper then explains the contents and development of three versions of the negative list in China (Shanghai) Pilot Free Trade Zone, and discusses its implications for foreign investors.
Introduction
The negative list management model has been a widely accepted regulation model for foreign investment. The multilateral negotiation within WTO framework has been impeded since the Doha Round due to the huge differences among member countries in aspects of the economic development, political system and ideology. Since states cannot reach agreement on investment liberalization within the existing WTO framework in a short time, they instead start FTA negotiations to achieve the investment liberalization agreement within the region. As of December 2015, 619 notifications of regional trade agreements (counting goods, services and accessions separately) had been received by the GATT/WTO. Of these, 413 were in force. [1]
The Promoting investment liberalization plays an important part of free trade agreements (FTA) and bilateral investment treaties (BIT). One of the major tasks in the process of investment liberalization is to simplify cumbersome approval process and to reduce abstract approval criteria in host countries, so as to decrease government involvement as much as possible and to eliminate unfairness caused by administrative measures. [2] The “negative list pre-establishment national treatment” management model is the main trends in the field of investment. Since the NAFTA firstly adopted the negative list in foreign investment domain, the negative list model has been gradually accepted by more and more countries, especially developed ones. It could be expected that the general trend is that this model will be a dominant one in the field of foreign investment regulation.
Why Does China Need the Negative List?
Current Situation in China
A negative list, or black list, in international investment domain regulates areas that are off-limits or come with restrictions to investors. Any sectors not appearing on the list are open to foreign investors, and will receive pre-establishment national treatment. This means that, instead of applying for approval from government before setting up business, foreign investors will only need to inform authorities in the free trade zone (FTZ). [3] Therefore, the negative list is an effective approach to increase foreign investorsrsquo; freedom in cross-border investment.
Currently, the negative list model has not been adopted by China nationwide. The “positive list” mode is the dominant measure on foreign investment. Under this mode, examination and approval to foreign direct investment are required beforehand. The Catalogue of Industries for Guiding Foreign Investment is the guideline to divide foreign investment projects into encouraged, permitted, restricted and prohibited categories. At the same time, China is actively working on the transformation of its investment supervision mode, from prior examination to post supervision. Such transformation is consistent with the international trend, and directly driven by the Trans-Pacific Partnership (TPP) Agreement and the China-U.S. BIT negotiation.
The TPP Agreement
The TPP agreement negotiation, which started in the year of 2010, is widely considered as a substitute of WTO to restructure global economic order. Though contents of the negotiation are not open to the public, available public documents show that the negotiation involves the protection of foreign capital, intellectual property right protection, competition policies and strict environmental standards. [4] The date of October 5, 2015 witnessed successful completion of the negotiation. The next step is for each negotiating party to pass the agreement in their legislative branch respectively. Once this process is completed, there will be a highest-standard trade group taking about 40% of the worldrsquo;s economy.
China is not within and also not ready for the TPP Agreement at this moment. The high standard requirement on trade and investment regulations is one of the main obstacles. The Agreement requires its member countries to adopt “negative list pre-establishment national treatment” management model for inbound foreign direct investment. Before joining the Agreement, China needs to modify current examination and approval system for foreign investment.
The China-U.S. BIT Negotiation
Another direct causation for introduction of the negative list is due to the BIT negotiation between the U.S. and China which was mandated by the China – U.S. Strategic Economic Dialogue in 2008. The China-U.S. BIT broke with Chinarsquo;s traditional BIT model in respect of pre-establishment national treatment, and China has agreed to negotiate on the basis of “negative list.”
China made the concession for two reasons. One is the insistence of the U.S. The other one is the established fact that the negative list model has been widely accepted by international community. Chinese overseas investment has been climbing rapidly since Chinas accession to the WTO. In 2014, foreign direct investment (FDI) inflows to China reached $129 billion, made it the largest FDI re
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中国的负面清单制度——起因、内容和涵义
关键词:负面清单;自由贸易区;中国;外商投资
摘要:本文介绍了国际投资领域负面清单的现状。论述了《跨太平洋伙伴关系协定》和中美双边投资条约谈判直接推动了我国外资监管改革。本文还阐述了中国(上海)自由贸易试验区三个版本负面清单的内容和发展,并探讨了其对外国投资者的启示。
引言
负面清单管理模式是一种被广泛接受的外商投资监管模式。多哈回合以来,由于成员国在经济发展、政治体制和意识形态等方面存在巨大差异,世贸组织框架内的多边谈判受到阻碍。由于各国不能在短时间内在现有世贸组织框架内就投资自由化达成协议,它们转而开始自由贸易区谈判,以期在该区域内达成投资自由化协议。截至2015年12月,关贸总协定/世贸组织已收到619份区域贸易协定通知(分别计算货物、服务和加入)。其中,有413人生效。[1]
促进投资自由化是自由贸易协定和双边投资条约的重要组成部分。投资自由化进程的主要任务之一是简化繁琐的审批程序,减少东道国抽象的审批标准,尽可能减少政府的参与,消除行政措施带来的不公平。[2] “负面清单 前期国民待遇”的管理模式是投资领域的主要趋势。自北美自由贸易协定首次在外商投资领域采用负面清单以来,负面清单模式逐渐被越来越多的国家特别是发达国家所接受。可以预期,总的趋势是,这种模式将成为外国投资监管领域的主导模式。
为什么中国需要负面清单?
中国的现行状况
国际投资领域的负面清单(或黑名单)规定了投资者不得进入或受到限制的领域。不在名单上的任何部门都对外国投资者开放,并将获得设立前国民待遇。这意味着,外国投资者不必在开业前向政府申请批准,只需向自贸区有关部门通报即可。[3] 因此,负面清单是增加外国投资者跨境投资自由度的有效途径。
目前,我国尚未在全国范围内采用负面清单模式。“积极清单”模式是外商投资的主导措施。在这种模式下,外商直接投资需要事先审批。《外商投资产业指导目录》是将外商投资项目分为鼓励类、允许类、限制类和禁止类的指导方针。同时,我国正积极推进投资监管模式的转变,由事前审查向事后监管转变。这种转变符合国际潮流,直接受到跨太平洋伙伴关系协定和中美双边投资条约谈判的推动。
TPP协议
TPP协议谈判始于2010年,被广泛认为是WTO的替代品,有利于全球经济秩序的重构。虽然谈判的内容并不对外开放,但现有的公开文件表明,谈判涉及到保护外资、保护知识产权、竞争政策和严格的环境标准。[4] 2015年10月5日,谈判圆满结束。下一步是谈判各方在各自的立法部门分别通过协议。一旦这一进程完成,将有一个最高标准的贸易集团占世界经济的40%左右。
中国目前不在也不准备签署TPP协议。对贸易和投资法规的高标准要求是主要障碍之一。协议要求其成员国对外商直接投资采取“负面清单 设立前国民待遇”的管理模式。在加入协议之前,中国需要修改现行的外商投资审批制度。
中美双边投资条约谈判
中美谈判负面清单的出现另一个直接原因是2008年中美战略经济对话授权的中美谈判。 中美之间在国民待遇方面打破了中国传统的比特模式,中国同意在“否定列表”的基础上进行谈判 中国做出让步有两个原因。 一个是美国的坚持,另一个是否定名单模式已经被国际社会广泛接受的既定事实。 中国加入世贸组织以来,对外投资迅速攀升。 2014年,流入中国的外国直接投资达到1290亿美元,成为世界上最大的外国直接投资接受国。 同年,中国对外直接投资增长15% ,达到创纪录的1,160亿美元。 [5]随着国际投资领域活动的增加,我国需要建立负面清单管理模式。
中国负面清单制度的内容是什么?
中国(上海)自贸区试点的建立
目前负面清单对中国来说是一大挑战。作为一个发展中国家,我国尚未建立起完善的服务业体系,法律体系也需要深入发展。因此,中国需要建立一个良好的保护体系来支持经济中的服务业。如果不这样做,基于负面清单的基本含义,新兴服务业未来将因缺乏保留而面临发达国家的激烈竞争。现在的困难在于,预期未来的情况比规范现有现象困难得多。
因此,中国中央政府颁布了设立中国(上海)自由贸易试验区的通知。[6] 自贸区将成为连接中国市场和外部市场的桥梁。[7] 是体制改革,是贸易、投资、金融等方面的创新。自贸区也是负面清单管理模式的试验区,也是对外商投资更方便的监管区。
中国负面清单制度的内容和发展
2013年版负面清单
截至目前,上海自贸试验区已公布了三个版本的负面清单。第一个版本通常称为负面清单2013版。以《外商投资产业指导目录(2011年修订)》(2011年目录)为基础,将国民经济划分为18个主要行业。这些部门细分为1069个子类别。该清单涉及190项特别监管措施,涵盖1069个子类别中的广泛活动。[八]
2013年负面清单采用“保留产业 专项治理措施”框架。外商投资属于保留产业或者需要采取特殊管理措施的,须经政府批准。否则,工程记录将满足要求。2013年的负面清单对中国在投资领域向深水领域迈出了改革的第一步具有重要意义。不过,2013年版负面清单几乎完全参考了《2011年限制性行业和禁止性行业目录》。因此,它基本上被视为2011年目录的浓缩版本。[9]
2014年版负面清单
2014年版负面清单从原来的190项措施进一步减少到139项。由于进一步开放,14项措施被实质取消。[10] 这些被取消的措施涉及制造业、房地产、基础设施、商业、航运、社会服务等多个行业,总体而言,2014年版更符合国际标准的透明度和特点。
2014年版负面清单透明度的一个例子是R87文化艺术产业条款说明。前一版只是规定“文化艺术产业投资必须遵守相关法律法规”,对“相关法律法规”没有进一步解释,这让投资者感到困惑。2014年版删除了这方面的特殊监管措施,以消除歧义。对于具有国际标准的法规,2014年版从负面清单中废除了禁止投资色情业和赌博业的规定。原因是这两个行业的投资禁令也适用于国内企业,因此不必重复负面清单中的要求。〔11〕
2015年版负面清单
国务院办公厅于2015年4月20日公布了《自由贸易试验区外商投资准入特别管理办法(负面清单)》(负面清单2015年)。这个版本至少在两个方面是一个重要的信号。一是上海自贸区负面清单管理模式初见成效,是向其他地区推广经验的时机。中国(广东)自贸区试点、中国(福建)自贸区试点和中国(天津)自贸区试点,是接下来检验负面清单管理模式的领域。二是引进2015年版负面清单,进一步探索负面清单管理模式,加快对外开放步伐,深化外商投资管理体制改革。通过实现这些目标,中央政府打算在自贸区内建立一个透明、有效的外资准入体系和一个国际化、制度化的营商环境。这些成功的政策和机制将用于多边和双边投资条约谈判。[12]
尽管上海自贸区的负面清单试点取得了实质性的成功,但要与国际接轨还有很长的路要走。2015年版负面清单与前两版相比,进一步减少了保护措施和保留产业的数量。然而,它仍然是2015年目录的翻修版本,没有对临时结构进行实质性修改。要使中国成为一个理想的外商投资国家,同时也要确保国家的安全和最大利益。
中国的负面清单意味着什么?
更开放的市场,更利于投资者的环境
负面清单的发展表明,中国市场将更加开放。在负面清单框架内,所有行业和部门都将允许外国投资,除非有明确规定。这意味着中国必须“选择退出”保护,而不是“选择加入”。此外,负面清单和成立前国民待遇也是支持措施。后者将允许在所有阶段不歧视地进入国内市场,并保护投资前活动。一旦负面清单在全国范围内铺开,如果不在负面清单内,现行的外商投资审批制度将被备案制度所取代。这将为各行业的投资提供更大的确定性。
权力下放与政府角色和职能转变
现行的外商投资审批制度在很多方面存在缺陷。审批机关就是一个很好的例子。目前,外商投资项目接受国家发改委、商务部和国家工商行政管理总局的监督。多部门监督必然带来权力重叠、行政资源浪费、腐败和寻租。负面清单管理模式在一定程度上解决了这一问题,因为新模式将下放行政审批权限,将政府角色从审查者转变为管理者。
外商投资法的构建
在现行法律制度下,外商投资主要受《中华人民共和国中外合资经营企业法》、《中华人民共和国中外合作经营企业法》和《中华人民共和国外资企业法》的约束。除这三部法律外,还有《反垄断法》、《外商投资产业指导目录》、《关于外商并购境内企业的规定》等与外商投资有关的法律文件。面对这些数不清的法律法规,外国投资者通常感到沮丧。自贸试验区负面清单管理模式的试点和外商投资法征求意见稿的公布,标志着我国将有一部统一的外商投资法,使外商在华投资时有法不依、有法不依。
总结
采用负面清单和改革外商投资管理模式是国际通行做法和我国经济发展的现实需要。目前,负面清单在自贸区的应用和发展已取得初步成效。政府目前需要思考以下三个问题才能进一步推进改革:如何将改革经验推广到自贸区以外的其他地方?如何赋予政府在外资监管领域必要的决策权?进一步对外开放后,如何完善外商投资国家安全审查机制,确保国家安全和最大利益?现阶段,外商在自贸区享受负面清单管理模式带来的机构红利是可以肯定的,这种红利今后将遍布全国。
参考文献
[1] Information on https://www.wto.org/english/tratop_e/region_e/region_e.htm. last visited on Oct 20, 2015.
[2] Ibrahan F. I. Shihata, Recent trends Relating to Entry of Foreign Direct Investment ICSID Review, Foreign Investment Law Journal. 9 (1994) 51.
[3] Shanghai Publishes Negative List of Banned Activities for FTZ, information on http://english.caixin.com/2013-09-30/100588124.html, last visited on Aug. 5, 2015.
[4] T.A. Kahn, How the Trans Pacific Partnership Lost Its Way, information on http://www.gatewayhouse.in/how-the-trans-pacific-partnership-lost-its-way/, last visited on Dec. 20, 2015.
[5] World Investment Report 2015, p41.
[6] Information on http://www.gov.cn/zwgk/2013-09/27/content_2496147.htm, last visited on Oct 25, 2015.
[7] Lijian Huang, Jin Yue, Financial Reform in Shanghai Free Trade Zone and Coping Strategies of Commercial Banks, Research on China (Shanghai) Free Trade Zone. 301 (2014) 33-37.
[8] Information on http://english.caixin.com/2013-09-30/100588124.html, last visited on August 5, 2015.
[9] Fang Wu, The Industry Choice of the Negative List in Korea and Its Enlightenment to China, International Trade. 6 (2014) 34-38.
[10] The Slimming Logic of the Free Trade Zone Negative List 2014 Version, Foreign Investment in China. 7 (2014) 44-46.
[11] Interpretation of the New Version of “Negative List“ in Free Trade Zone, informati-on on http://www.china-shftz.gov.cn/NewsDetail.aspx?NID=2dc97dab-7db8-4736-b7f6-6e4de8beabf7amp;CID=f672f518-99a3-4789-8964-1335104906b4amp;MenuType=1, last visited on Aug 5, 2015.
[12] The General Office of the State Council issued Special Administrative Mea
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