A highly-anticipated bill eliminates the requirement for foreign firms to transfer proprietary technology to Chinese joint-venture partners.
Delegates arrive for the National People’s Congress in the Great Hall of the People in Beijing, China.
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 change will ensure that foreign investors will enjoy the same privileges as Chinese companies in most sectors, except those placed on a “negative list”.
“This is a fundamental change in our foreign investment management system, which will improve the openness, transparency and predictability of the investment environment,” Zhang said.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Malaysian stocks fall as neighbours react positively to US-China deal newsSoutheast Asian markets have come under pressure since the imposition of tariffs by the world's two economic giants on each other's goods.
Read more »
US, China said near deal that could end most US tariffsSources say Chinese officials want US levies on Chinese goods removed to finalise any deal.
Read more »
China using Muslim detainees for forced labourMillions of mostly Muslim minorities are held in internment centres across Xinjiang, China, and others forced to work for far less than the local minimum wage.
Read more »
US, China close to reaching major trade deal, says report | The Malaysian InsightUS, China close to reaching major trade deal, says report
Read more »