For­eign In­vest­ment Law

Beijing Review - - THIS WEEK -

A draft law on for­eign in­vest­ment has been sub­mit­ted to a bi­monthly ses­sion of the Na­tional Peo­ple’s Congress (NPC) Stand­ing Com­mit­tee, which opened on De­cem­ber 23, 2018.

Once adopted, the uni­fied law will re­place three ex­ist­ing laws, namely the laws on Chi­nese-for­eign eq­uity joint ven­tures, non-eq­uity joint ven­tures and wholly for­eignowned en­ter­prises.

The cur­rent laws can hardly keep up with the chang­ing eco­nomic si­t­u­a­tion, as China strives to build new in­sti­tu­tions and open its econ­omy. But the new law will guar­an­tee China’s open­ing up in the next phase and more ef­fec­tive uti­liza­tion

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