Shaanxi delegation considers draft of Foreign Investment Law     Updated: 2019-03-15

The Shaanxi delegation held a plenary meeting to consider the draft of the Foreign Investment Law on March 10, 2019. Hu Heping, head of the Shaanxi province delegation, and other delegates including Liu Guozhong, He Rong, Liang Gui and Liu Xiaoyan, attended the meeting. Relevant officials of the Standing Committee of the National People's Congress also attended to supervise expressed deliberations and opinions.

The delegates agreed that the formulation of the Foreign Investment Law is an important measure to further expand the opening-up policy and promote a new pattern of strategic deployment. The law is expected to summarize and improve the rules for foreign investment. The enactment of this law legally guarantees China’s determination to expand its opening-up policy and utilize foreign capital effectively.

A delegate said they need to study the development opportunities brought by the foreign investment law in Shaanxi, put forward a systematic implementation plan, and promote the implementation of the law in Shaanxi.

They also agreed the draft has clear provisions on the access, promotion, protection and management of foreign investment, which will surely provide a more unified and powerful legal guarantee for foreign investment. The draft ensures that foreign investment can participate in markets on an equal footing with local companies.

Terms such as equal and fair are mentioned many times in the draft, and explicit protection measures are provided for issues of intellectual property rights and technology transfer; matters of common concern to foreign investors.