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Sunday, December 23, 2018, 18:04
China mulls unified foreign investment law
By Xinhua
Sunday, December 23, 2018, 18:04 By Xinhua

In this Oct 15, 2018 photo, Li Zhanshu, chairman of the National People's Congress (NPC) Standing Committee, presides over the 14th chairpersons' meeting of the 13th NPC Standing Committee at the Great Hall of the People in Beijing, China. The top legislature started its bimonthly session on Dec 23, 2018. (LIU WEIBING / XINHUA)

BEIJING – A draft law on foreign investment has been submitted to a bimonthly session of China’s top legislature, the National People's Congress Standing Committee, which opened Sunday.

Once adopted, the unified law will replace three existing laws on Chinese-foreign equity joint ventures, non-equity joint ventures (or contractual joint ventures) and wholly foreign-owned enterprises.

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The top legislature started its bimonthly session Sunday, with legislators scheduled to review multiple draft laws and revisions.

During the weeklong session, the National People's Congress Standing Committee will deliberate draft laws on foreign investment and vaccine management, as well as draft revisions to patent law.

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Reports on medical fund use and marine environment protection will also be discussed, according to the agenda.

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