China offers to create favorable conditions for foreign investors

Almaty. January 20. Silkroadnews - China is developing a new foreign investment law, reports the agency "Xinhua".
"The Ministry of Commerce has issued for public comment a draft law of the PRC "On foreign investments". The main direction of the reform of investment legislation proclaimed improving the legal framework of investment activity and further simplification of procedures for the approval of investment projects", - says the publication.
As noted, the bill proposes the abolition of the system of review and approval of investment projects by the competent authorities of different levels, providing foreign investors with the establishment, acquisition or expansion of enterprises in China no less favorable investment conditions than domestic investors, the introduction of a negative list for foreign investment and reporting of foreign investors.
The document also provides for further improvement of the verification of foreign investors for the emergence of threats to the security of the state, encouraging the inflow of foreign investments and their protection, tighter controls on investment activities and other.
According to the Ministry of Commerce of China, in 2014 in China through foreign investment have been created 23,778 new businesses. This figure increased by 4.4% as compared with the previous year. Volume of actually applied foreign investment reached $119.6 billion, an increase of 1.7%. The foreign investment to China in 23 years takes the leading positions among developing countries.