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Govt· Policy· Business

China to ease access of foreign investments, new law effective 1 Jan 2020

CKN
minutes 2019/08/23 03:34:57
2,019
 Foreign investments, Intellectual property,  Chinese market

Aug 23, 2019 (China Knowledge) - China recently adopted the revised Foreign Investment Law dated 15 Mar 2019, which will elevate the ease of access of foreign investments in the Chinese markets. The new law, which will come into effect on 01 January 2020, aims to level the rights between domestic and foreign investors in China, and provide equal protections.

To ensure the smooth implementation of the Foreign Investment Law, existing regulations and policies will be reviewed and amended in order to create an open and fair Chinese market for foreign investments. Policies concerning intellectual property rights and customs clearance will also be re-assessed.

The Ministry of Commerce announced that the easing of access to Chinese markets are part of efforts which seek to attract more foreign investment, while at the same time stimulate consumption under the backdrop of increasing uncertainty and looming recession in the global economy.

A growing number of courts which oversee intellectual property rights have also been set up at both national and provincial levels, which will likely help boost foreign investors’ confidence and contribute to China’s continued economic growth.

A multinational leader's summit, consisting of 3 separate closed-door meetings, was recently announced by the government. The 2-days summit will be held in Qingdao, Shandong province starting from 19 Oct, with over 150 senior executives of companies from over 25 different countries attending. Government officials are hopeful that such summit can help in the effective implementation of the Foreign Investment Law, and increase China’s ability to attract foreign investors.

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