AFP, Beijing :
China’s legislature will vote next week on a highly-anticipated bill that will bring “a fundamental change” for foreign investors, an official said Monday, in a move that could help ease US trade tensions. The draft foreign investment law will be the most closely watched item at the annual two-week session of the rubber-stamp National People’s Congress, which opens on Tuesday.
The legislation seeks to address longstanding complaints from foreign companies, though Europeans voiced concerns that it was being fast-tracked to meet US demands on trade. The bill will eliminate the requirement for foreign firms to transfer proprietary technology to Chinese joint-venture partners – a central issue in China’s trade negotiations with the United States.
China’s legislature will vote next week on a highly-anticipated bill that will bring “a fundamental change” for foreign investors, an official said Monday, in a move that could help ease US trade tensions. The draft foreign investment law will be the most closely watched item at the annual two-week session of the rubber-stamp National People’s Congress, which opens on Tuesday.
The legislation seeks to address longstanding complaints from foreign companies, though Europeans voiced concerns that it was being fast-tracked to meet US demands on trade. The bill will eliminate the requirement for foreign firms to transfer proprietary technology to Chinese joint-venture partners – a central issue in China’s trade negotiations with the United States.
