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.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US, China to observe market forces on currencies: People's Bank of China Governor YiBEIJING (BLOOMBERG) - China and the US have reached consensus on many 'crucial' issues, including a commitment to observe market-oriented exchange rate mechanisms, People's Bank of China Governor Yi Gang said.. Read more at straitstimes.com. Drhbrteeytfftfgivv
Source: The Straits Times - 🏆 8. / 63 Read more »