China approves foreign investment law, possible US olive branch

BEIJING: China's rubber-stamp parliament approved a foreign investment law on Friday that was fast-tracked and may serve as an olive branch in trade talks with the United States.

US President Donald Trump said Thursday the negotiations should wrap up within four weeks, adding:"We are getting what we have to get." The changes will ensure that foreign investors will enjoy the same privileges as Chinese companies in most sectors, except those placed on a"negative list". But it added that it was concerned that"such an important and potentially far-reaching piece of legislation will be enacted without extensive consultation and input from industry stakeholders".

The European Union Chamber of Commerce in China had earlier complained that Beijing was rushing the investment law to appease the United States.

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Source: The Straits Times - 🏆 8. / 63 Read more »