On 27 December 2021, the National Development and Reform Commission and Ministry of Commerce jointly released China's updated nationwide negative list for foreign investment, together with a separate updated list applicable in China's pilot free trade zones (FTZ). The revisions show China continuing its reform and opening-up policy to foreign investment. The two lists are further shortened, allowing wider foreign participation in the automobile sector and commercial service sector. Both lists took effect 1 January 2022, each replacing its 2020 predecessor from the effective date.