China works over a new law to attract and protect foreign investment

Beijing. March 5. Silkroadnews - Chinese lawmakers plan to combine the country’s three laws on foreign investment and develop a new law on attracting and protecting foreign investment, a spokesperson for the first session of the 13th National People’s Congress Zhang Yesui said.
The new legislation will adhere to the policy of high-standard liberalization and facilitation of trade and investment, and significantly ease market access for foreign companies, Zhang said.
The law, as expected, will serve to create a transparent, stable and predictable business environment for foreign investors and protect their rights and interests.
According to Zhang, this year lawmakers plan to introduce or amend more than 20 laws, including the drafting of a separate civil code and development of laws on specific taxes.
He also noted, a five-year legislative plan for the 13th Standing Committee of the National People’s Congress is also underway.