China’s parliament approves new foreign investment law
Written by OANN on March 14, 2019
Chinese President Xi Jinping arrives for the closing session of the National People’s Congress (NPC) at the Great Hall of the People in Beijing, China March 15, 2019. REUTERS/Thomas Peter
March 15, 2019
BEIJING (Reuters) – China’s parliament voted on Friday to approve a new foreign investment law.
The law will replace existing regulations for joint ventures and wholly foreign-owned enterprises and is designed to ease foreign concerns about China’s investment environment, especially as China and the United States work to try to end a trade war.The law will come into effect on Jan. 1, 2020, the state news agency said.
(Reporting by Lusha Zhang, Gao Liangping and Ben Blanchard)