Video PlayerClose BEIJING, Dec. 13 (Xinhua) -- China approved a draft regulation on implementing the foreign investment law Thursday to better protect the interests of foreign investors. The draft regulation was passed at a State Council executive meeting chaired by Premier Li Keqiang. With detailed measures on protecting foreign investment, the regulation will go into effect on Jan. 1 next year together with the foreign investment law, according to a statement released after the meeting. The draft regulation stipulated that foreign-invested enterprises will be treated equally in terms of project applications, land supply, tax and fee cuts and qualification licensing. It also prohibited governments and related departments from restricting foreign firms' access to government procurement markets or imposing differentiated and discriminatory treatment on foreign firms. It clarified that the country can not requisition foreign investment except in special cases. When requisition is … [Read more...] about China approves draft regulation on implementing foreign investment law
Foreign investment law china
Foreign Investment Law draft implementation approved
China has approved a draft implementation regulation of the Foreign Investment Law in a bid to foster a more inviting environment for foreign investors and better address their concerns through the building of a sound legal framework. The draft was approved at a State Council executive meeting on Thursday chaired by Premier Li Keqiang. It is aimed at facilitating implementation of the Foreign Investment Law, which was passed in March, and is scheduled to take effect on Jan 1. The regulation stipulates that forced technology transfer requirements for foreign investors and companies, either through administrative licenses or other means, are prohibited. It clearly requires equal treatment of domestic and foreign businesses regarding land supply, taxation and fee arrangements. Foreign companies are entitled to equal participation in the formulation and revision of national, industrial and local standards in accordance with the law. They can make standards-related recommendations, and … [Read more...] about Foreign Investment Law draft implementation approved
China to further improve environment for foreign investment
Video PlayerClose BEIJING, Dec. 13 (Xinhua) -- The draft regulation on implementing China's foreign investment law was approved at the State Council's executive meeting chaired by Premier Li Keqiang on Thursday. The new regulation specifies measures to facilitate and protect foreign investment, better address foreign investors' concerns and promote opening up at a higher level. Li stressed that the main legal framework provided by the foreign investment law needs to be fleshed out, with detailed operable rules, to ensure implementation along with the law. "The approval of the implementing regulation demonstrates our resolve to attract foreign investment and further open up," Li said. The regulation specifies and clarifies matters in the form of administrative regulation, and will be implemented along with the foreign investment law starting on Jan. 1, 2020. The regulation requires equal treatment of domestic and foreign businesses regarding government funding, land supply, as well as … [Read more...] about China to further improve environment for foreign investment
Fintech firms concerned about foreign ownership cap
Virgina Foote, a representative of AmCham Vietnam (Photo: danviet) Hanoi (VNS/VNA) - A draft regulation put forward by the State Bank of Vietnam (SBV) that would limit the foreign ownership rate in the payment intermediary service sector to 49 percent was discussed at a workshop in Hanoi on December 12. Legal experts, fintech and e-payment firms attended the workshop held by the Vietnam Chambers of Commerce and Industry (VCCI). The draft decree includes new policies on the legal synchronisation of cryptocurrencies, managing cross-border payment activities, providing non-account payment services, payment management, perfecting regulations for payment intermediary services, and foreign investment in payment intermediaries. Article 29 sets out the maximum percentage foreign investors can hold, including direct and indirect ownership, at 49 percent of charter capital of an intermediary payment service provider licensed by the State Bank of Vietnam. This article drew the most comments … [Read more...] about Fintech firms concerned about foreign ownership cap
Chinese Foreign Minister Rains on Trade Deal Parade: ‘Paranoid’ U.S. ‘Damaging Mutual Trust’
Chinese Foreign Minister Wang Yi went on an explosive rant Friday disparaging the United States for condemning human rights abuses in China, casting a pall on optimism triggered by reports of a Washington-Beijing trade agreement.President Donald Trump has led an economic policy shift resulting in diminished two-way trade, imposing tariffs on key Chinese products in an attempt to negotiate a deal that would help American agriculture and manufacturing flourish. Shortly after Wang delivered his remarks about “paranoid” American officials, Trump and the Chinese news agency Xinhua both reported that the two sides had agreed to a phrase one trade agreement. Wang did not discuss economic negotiations, instead highlighting efforts in Congress to aid the peaceful Hong Kong pro-democracy movement and condemn China’s use of concentration camps to commit genocide against Muslim ethnic minorities in westernmost Xinjiang province. “We hope that the U.S. side will promptly … [Read more...] about Chinese Foreign Minister Rains on Trade Deal Parade: ‘Paranoid’ U.S. ‘Damaging Mutual Trust’
