Draft foreign investment law set for second review

[Photo/IC]

China's draft foreign investment law will undergo a second review during a two-day session of the country's top legislature at the end of this month.

The draft law, which was submitted to the top legislature for a first review last month, is expected to replace the nation's three current statutes on wholly foreign-owned entities, and aims to further promote the rights of foreign investors.

The first version said foreign enterprises would receive pre-established national treatment and be subject to a negative list management system. They could also enjoy the same rights as domestic companies in activities such as stock issuance and bidding for government procurement projects in China.

It also highlighted the protection of foreign investors' intellectual property rights and encouraged technological cooperation based on voluntary principles and commercial rules.

The first version has been published on the top legislature's website to encourage public feedback.

The Standing Committee of the National People's Congress will meet in Beijing from Jan 29 to 30.