From May 1, 2020, foreign firms registered in China with net assets no lower than 300 million yuan ($43 million) will be allowed to take part in oil and gas exploration and production, the Ministry of Natural Resources said at a media conference.
The foreign investment law, which came into force on January 1, is supposed to give local and foreign companies equal treatment in the Chinese market and improve protections of intellectual property.
"As low-cost manufacturing is gradually moving away from China, it is now critical for India and even the world whether it can replace China as the next 'world's factory', an article in the Global Times said.
Overseas direct investment soared more than 18 percent to an all-time high of over USD145 billion last year, exceeding the USD 135.6 billion of foreign direct investment, according to the 2015 Statistical Bulletin of China's Outward Foreign Direct Investment, published today.
Bad loans at Indian banks jumped by nearly a third to around 4 trillion rupees (USD 60.3 billion) late last year as the central bank drives a national clean-up of banks' balance sheets.
State explorer Oil and Natural Gas Corp is in talks with the Indian unit of BG Group and Italian oil major ENI to sell up to a 30% stake in an east coast block
China will start reviewing merger and acquisition (M&A) deals struck by foreign firms in the country next month in a bid to ensure national security, the cabinet said today.