China's parliament takes up new foreign investment law

BEIJING: China's rubber-stamp parliament took up on Friday a draft foreign investment law that could help smooth out trade talks with the US as the world's top two economies angle towards a deal.

The law aims to assuage concerns about China's business environment for foreign firms, but earlier versions of the draft drew criticism from some business groups. "This will certainly provide a more comprehensive and more powerful rule of law guarantee for foreign investment interests," Ning told reporters earlier this week.Beijing sees the law as a tool to attract more foreign investment as its economy slows.

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