The Standing Committee of the National People's Congress will hold a meeting on the draft Foreign Investment Law, etc. | Fu Zhenghua | Investment Law |



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The meeting of the Standing Committee of the National People's Congress will be held today to review the foreign investment bill, etc.

Chinanews.com client Beijing, January 29 According to previously announced news, the eighth session of the Standing Committee of the 13th National People's Congress will be held in Beijing from 29 to 30. According to the recommendations of the previous meeting of the president, the meeting will review the foreign investment bill and related appointments and dismissals.

<img title = "The sixth meeting of the Standing Committee of the 13th National People's Congress.China News ServiceReporter Sheng Jiapeng photo "style =" max-width: 500px "src =" http://n.sinaimg.cn/translate/33/w500h333/20181223/Cs2C-hqqzpku3918207.jpg "/>

Data Map: The 6th Session of the Standing Committee of the 13th National People's Congress. China News Agency reporter Sheng Jiapeng photo

As one of the topics of the meeting of the NPC Standing Committee, the foreign investment bill has undoubtedly received much attention from society.

Previously, the Seventh Session of the Standing Committee of the 13th National People's Congress, held in December 2018, revised the draft Foreign Investment Law. The draft will be open for public comment on the website of the National People's Congress on December 26, 2018. The deadline is February 24, 2019.

At the 7th meeting of the Standing Committee of the 13th National People's Congress, Justice Minister Fu Zhenghua stressed in his explanation that since reform and opening up, China has formed a Sino-foreign joint venture law, foreign business law and Sino-foreign cooperative law. The legal system of foreign investment, which is mainly based on the "three foreign laws", provides effective legal protection for the opening up to the outside world and the active use of foreign capital.

The data show that in October 2018 there were about 950,000 overseas invested enterprises in China, and the actual use of foreign capital amounted to more than $ 2.1 trillion. Foreign investment has become an important force to promote economic and social development.

At the same time, Fu Zhenghua also mentioned some of the challenges encountered in the "three foreign laws".

Fu Zhenghua said that in recent years, the opening and use of foreign capital in China is facing a new situation.The three foreign laws formulated at the initial stage have been difficult to adapt to the construction needs of a new open economic system.It is urgent to formulate a unified base of foreign capital based on practical experience. Sexual law provides a more powerful guarantee of the rule of law for further opening to the outside world and for the active and effective use of foreign capital under the new situation.

In terms of content, according to media reports, the draft Foreign Investment Law aims to establish the corresponding systems necessary for the promotion, protection and management of foreign investment, including:

Implement national pre-entry treatment plus negative listing system and implement management in accordance with the principle of domestic and foreign investment consistent with the negative list, State development support policies are also applicable to enterprises invested in the foreign invested companies participate in the work of standardization. Companies should participate in government procurement activities fairly, if the State does not impose fees on foreign investment and is subject to the incidence in accordance with the public interest of the society, should conduct and provide fair and reasonable compensation in accordance with the procedures.

The first draft of the bill stipulates that the state adheres to the basic national policy of opening up to the outside world, encourages foreign investors to invest in China and raises the quality and level of foreign capital utilization. The state implements a policy of liberalization and facilitation of high-level investments, establishes and enhances mechanisms to promote foreign investment and creates a stable, transparent and predictable investment environment.

At the same time, the bill clarifies that local peoples' governments at all levels and their relevant departments must strictly adhere to commitments made with foreign investors and foreign investment firms in accordance with the law and various types of contracts entered into in accordance with law. If the interests of the State or the public social interests need to change the political commitments or the contractual agreements, they must be executed in strict accordance with the statutory authority and procedures, and compensate foreign investors and companies invested abroad for the losses suffered by agreement with the law. (End)

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