Photo: Fred Dufour Agence France-Presse
An agreement between China and the United States could intervene at the end of march during a visit of the chinese president, Xi Jinping, to the United States.
China promised Monday to offer the same treatment to chinese investors and foreign, in favor of a new law that will constitute a “fundamental change” for companies around the world.
The law on foreign investment is the most expected among those to be voted on at the annual session of the national people’s Assembly, which opens Tuesday for ten days. The bill was filed at the end of 2018 in response to the requirements of the United States, which require the use of structural reforms in China in the framework of their commercial war waged against Beijing. An agreement between the two countries could take place in late march during a visit of the chinese president, Xi Jinping, the United States said Sunday, the Wall Street Journal.
The bill prohibits technology transfers imposed on foreign investors, a practice condemned by the government Trump. It abolishes also “the green lights on a case-by-case” reserved for investment projects in China, has provided in front of the press the spokesman of the PNA, Zhang Yesui.
“Chinese investments and foreigners will receive the same treatment,” promised Mr. Zhang, explaining that the foreign capital could be worn on any sectors of the economy, with the exception of those listed on the “negative list” of the government. The latter “will be clearly listed and the sectors that are not included on the negative list will be completely open,” he explained.
In response to the bill, the american Chamber of commerce in China welcomed the changes but said they want to wait for the details of the legislation to decide. The european Chamber of commerce, however, criticized a text filed under it in a hurry to please the us negotiators.