Under the background of expanding opening up and building a new open economic system, the draft of the foreign investment law submitted to the National People's Congress for deliberation has become the focus of attention at the ongoing second session of the 13th National People's Congress or NPC and the second session of the National Committee of the Chinese People’s Political Consultative Conference or CPPCC.
At the plenary meeting of the Jiangsu delegation to review the draft of the foreign investment law, NPC deputies from the government, enterprises, the law and other fields contributed their opinions. In the view of Zhang Jindong, the formulation of the Foreign Investment Law reflects the legislative requirement that "this year we must promptly formulate laws to reform and deepen market-oriented reforms and expand high-level openness, which is urgently needed and comes at the right time.
Zhang Jindong, NPC deputy
The Foreign Investment Law allows us
to fully feel the maintenance
and protection of the legitimate rights
and interests of the market economy
by the party and the state
and will further stimulate the vitality
of the development of the corporate sector
and promote the overall rapid development
of the market economy
Compared with the three laws concerning the regulation of foreign investment in China enacted in the early days of the country’s reform and opening up, many NPC deputies and CPPCC members have noticed that the draft of the foreign investment law has placed more emphasis on the protection of foreign investment, which is more conducive to actively expanding the main tone of opening up and promoting foreign investment, creating a business environment with legalization, internationalization and convenience.
Wei Qingsong, CPPCC member
I should say it is a basic law for foreign investment
From the content point of view
the focus is on the promotion
and protection of foreign investment
and of course the management of foreign investment
From the perspective of legislation
it also reflects the tremendous progress
of the rule of law
in socialism with Chinese characteristics
Che Jie, NPC member
The 41-point regulations are very important
as they answer the most concerned issues
of foreign investment
such as national treatment plus negative list
before market access
establishment of complaint mechanism
free remittance of foreign exchange
intellectual property protection
and government compliance
which not only reflects protection
but actually increases investor confidence
Fei Shaoyun, NPC deputy
The law will allow us to conduct
some necessary security checks on foreign capital
in accordance with international practice
to ensure that the development of foreign capital
in China can conform to Chinese laws
and China's national interests
For Jiangsu, which utilizes foreign capital to account for about one-fifth of the country's total, after the adoption of the draft of the foreign investment law, it will attract more global investors to invest in Jiangsu, so that foreign businessmen in the province can stay on and manage to develop well. As a result, there is much to be done in terms of expanding openness, promoting reform, innovation and development.
Ma Minglong, head of the provincial department of commerce
More importantly
we must improve quality and efficiency
that is we must strengthen the structure
and quality of our use of foreign capital
and improve the efficiency
of using foreign capital
We must regard advanced manufacturing
and modern service industries as the focus
of our introduction of foreign investment
We hope to further improve our industrial chain
innovation chain and value chain
through the integration of openness and innovation
and promote the high-quality development of our economy
