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    GUARANTEEING,FAIRNESS

    时间:2019-04-07 12:30:23 来源:阳光早教网 本文已影响 阳光早教网手机站


      The adoption of the new Foreign Investment Law at the Second Session of the 13th National People’s Congress(NPC), China’s top legislature, on March 15 shows China’s determination to open up further for foreign businesses and allay foreign investors’ concerns. The law, which takes effect as of January 1, 2020, will be a new legal guarantee for a more sound, stable and transparent foreign investment climate.
      Homegrown reasons
      The law has fi ve key provisions:
      Foreign-funded enterprises will receive the same treatment as domestic ones;
      The pre-establishment national treatment plus a negative list management system will be fully implemented. A negative list spells out the sectors where foreign capital is banned or limited. Investment in areas not on the list enjoys national treatment;
      Specifi c policies and measures to attract foreign investment will be instituted;
      Foreign investment management is to be simplifi ed; and
      Domestic market access and investment standards will conform to international norms.
      The law will help establish an environment where foreign companies can compete fairly in China, and better protect the legitimate rights and interests of foreign investors, Wang Shouwen, Vice Minister of Commerce, said at a news conference during the Two Sessions, the annual meetings of the NPC and the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), China’s top political advisory body.
      Wang added that the law will also protect the intellectual property rights (IPR) of foreign investors and encourage voluntary cooperation on technology based on commercial rules.
      The law is not due to U.S. pressure, Justin Yifu Lin, a member of the 13th CPPCC National Committee, said in a panel discussion on March 9, referring to the trade frictions between China and the U.S. that cast a shadow on the global economy in 2018.
      “Launching such a law is an inevitable move as part of our efforts to deepen reform and opening up,” Lin said.
      After reform and opening up began in 1978, three laws were introduced to manage foreign businesses—the Law on ChineseForeign Equity Joint Ventures, the Law on Chinese-Foreign Non-Equity Joint Ventures, and the Law on Wholly Foreign-Owned Enterprises. But as the Chinese economy developed, these laws proved ineffective. The six-chapter law, which covers promotion, protection, administration and legal responsibilities of foreign investment, will replace the three old laws.

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