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China allows foreign investors into household service sector

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China allows foreign investors into household service sector


China welcomes foreign investors to invest in the country’s household service sector and enjoy development opportunities, the Ministry of Commerce (MOC) said on Wednesday.

Xian Guoyi, Director with Department of Trade in Services and Commercial Services under MOC said this during an online press briefing.

He added that household service sector was not included in the negative list for foreign investment implemented in China.

Xian explained that foreign enterprises can register and set up household service companies in the country in accordance with relevant procedures,  the same as Chinese enterprises.

He said that the household service sector in China had great development potentials, as demands for multi-layered and diversified domestic services grew strong.

He said such home-based services as elderly care, childcare, cooking and cleaning are in high demand due to a larger aging population in the country and implementation of policies to encourage childbirth.

Currently, China’s household service industry is picking up pace of work resumption amid efforts to shore up the sector.

As of the end of June, the work resumption rate of the industry had reached over 90 per cent.

Edited By: Chioma Ugboma/Ismail Abdulaziz (NAN)

Nana Musa: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

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