China's Parliament passes new foreign investment law to facilitate US trade talks

BEIJING - China on Friday passed a new foreign investment law that it said will even the playing field for foreign firms and protect their legal rights, even though the slimmed-down law was expedited compared to past laws.

Among the articles of the law, which will take effect on Jan 1, 2020, are broad pronouncements that foreign firms will receive the same treatment as local firms when it comes to government procurement, and that the authorities will not force technology transfer in exchange for access to China's markets.

The law was first tabled for reading last December, and had its third reading last week, even though most Chinese laws take years to pass.

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