China passes new foreign investment law
The Foreign Investment Law was passed by the second session of the 13th National People's Congress on March 15, and will take effect from Jan 1, 2020 to provide a more business-friendly environment.
With unified provisions for the entry, promotion, protection, and management of foreign investment, it is a new and fundamental law for foreign investment in China.
Foreign-invested enterprises will equally enjoy government policies supporting enterprise development, and be able to participate in standard-setting on an equal footing and in government procurement through fair competition, according to the law.
The new law also has clear positions on the protection of foreign investors' rights regarding issues such as intellectual property rights protection and technology transfer that are of common concern to foreign investors.