Concerned government ministries and committees are working out more open policies on foreign capital to fulfill China' commitment for its entry into WTO.

A newspaper China Textile said government will relax the ratio limits on foreign share holding in some areas of service industry and facilitate medium-and-long-term loans raising inside China by foreign investors.

The state planning and Development Commission (SPDC) are revising policies and regulations to further soften the limits on foreign capital absorption in various fields and regions. China' service industry will open up progressively.

Sheng Huaren, director of the State Economic and Trade Commission (SETC), said that SETC would further relax limits, revise and promulgate investment guidelines this year. He also urged for the investigation into the influence of China' entry into WTO on different industries, and then to revise and adjust existing regulations to aid Chinese enterprises in fierce international competition.

The Minister of Foreign Trade and Economic Cooperation (MOFTEC) Shi Guangsheng said that MOFTEC would gradually open up such areas as finance, insurance, telecommunication, international trade, tourism, etc, in which the joint ventures and solely foreign-funded enterprises are both allowed.

The Minister of Information Industry Wu Jichuan said recently that China is revising policies in telecommunication area for smooth transfer after China's entry into WTO. Some abnormal behavior by foreign capital would be properly dealt with, Wu also said.

Officials from National Domestic Trade Bureau also confirmed recently that joint ventures are allowed to participate in retail service in major Chinese cities, and this scope may be extended to all medium-sized cities in next two years.