The Negative List contains nearly 200 items for which foreign investment will still require approval. Of these, 80 are included in the most recent Foreign Investment Industrial Guidance Catalogue (hereafter Foreign Investment Catalogue) that was released in 2011. Twenty-five of the items are included in the list of ‘prohibited’ sectors in the Foreign Investment Catalogue, while the remaining 55 are included in the list of ‘restricted’ sectors. The remaining 120 items in the Negative List are newly introduced.