China's Draft Foreign Investment Law - A Move Towards A Unified Legal System

February 14, 2019 | BY

Adrian Lv &Huanhao He

Adrian Lv and Huanhao He of Han Kun Law Offices speak to China Law & Practice on the implication of China's draft Foreign Investment Law on various sectors and what lawyers need to know when the law comes into force.

Could you briefly describe the history of the Foreign Investment Law in China?

The Ministry of Commerce (MOFCOM) promulgated the Foreign Investment Law of the People's Republic of China (Draft for Comment) (the “2015 Draft”) in January 2015, the first attempt to establish a unified legal system for foreign investment. After consulting 72 central or local governmental authorities for comments , the MOFCOM, together with the Ministry of Justice and the National Development and Reform Commission, drafted the Foreign Investment Law of the People's Republic of China (Draft) (the “2018 Draft”), which was submitted for deliberation to the Seventh Session of the Thirteenth Standing Committee of the National People's Congress on December 23, 2018 and published on the official website of the National People's Congress on December 26, 2018 for public comment until February 24, 2019. The new draft Foreign Investment Law, if adopted, will replace the three foreign capital laws to become the legal foundation for foreign investment in China in the new era.

 

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