China to flesh out foreign investment law

China will introduce a series of regulations and documents in accordance with the foreign investment law to protect the legitimate rights and interests of foreign investors, Premier Li Keqiang said.

This is important for China in order to ensure that the law is implemented smoothly, Li said at a press conference after the conclusion of the annual session of China’s national legislature.

Li underscored efforts to make the complaint mechanism open, transparent and effective.

China’s national legislature on Friday passed the foreign investment law at the closing meeting of its annual session. The law will become effective on Jan. 1, 2020.

The law will offer better legal support to the protection and attraction of foreign investment, as well as regulate government behaviors, Li said.

The foreign investment law can also serve as a reference for investors from the two special administrative regions of Hong Kong and Macau as well as Taiwan, Li said.

The mainland welcomes more investment from the three regions, he said, adding that the State Council will listen closely to the views of the investors from these regions when making related regulations and policies so as to better protect their rights. MDT/Xinhua

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