Page 10 - THE SOUTH CHINA BUSINESS JOURNAL
P. 10
ver Story
investment, and the administrative organs and their staff shall not use
administrative means to force the transfer of technology.
The negative list will be further reduced, allowing more areas to
open for investment.
It is worth noting that just before the submission of
the draft, on December 22, the National Business Work
Conference was held in Beijing. Tang Wenhong, Director
of the Foreign Investment Department of the Ministry of
Commerce, said that in 2019, the "Foreign Investment
Law" will be introduced as soon as possible, and local
and various departments will be abolished to revise
the laws, regulations and normative documents
that are inconsistent with the current open
policies, which will further reduce the negative
list. In areas other than the negative list, the
comprehensive clearance and cancellation
of restrictions on foreign investment will be
eliminated, and the required stock ratios will be
reduced, thus allowing more areas to be wholly-
owned.
On December 23, the Ministry of Commerce
officially published an article by the Director
of the Foreign Investment Department of
the Ministry of Commerce, Tang Wenhong,
to continue the above-mentioned spirit.
Tang Wenhong said that in order to
implement the deployment of the Central
Economic Work Conference, the Ministry
of Commerce will comprehensively
implement the pre-entry national treatment
plus negative list management system,
further enhance the level of investment
liberalization and facilitation, and create a
world-class foreign investment environment.
AmCham South China encourages all its
members to submit any comments on the draft
law through the Chamber. A copy of the draft
law will be available on the Chamber website
www.amcham-southchina.org as soon as it is
available to the public.■
7 AmCham South China
investment, and the administrative organs and their staff shall not use
administrative means to force the transfer of technology.
The negative list will be further reduced, allowing more areas to
open for investment.
It is worth noting that just before the submission of
the draft, on December 22, the National Business Work
Conference was held in Beijing. Tang Wenhong, Director
of the Foreign Investment Department of the Ministry of
Commerce, said that in 2019, the "Foreign Investment
Law" will be introduced as soon as possible, and local
and various departments will be abolished to revise
the laws, regulations and normative documents
that are inconsistent with the current open
policies, which will further reduce the negative
list. In areas other than the negative list, the
comprehensive clearance and cancellation
of restrictions on foreign investment will be
eliminated, and the required stock ratios will be
reduced, thus allowing more areas to be wholly-
owned.
On December 23, the Ministry of Commerce
officially published an article by the Director
of the Foreign Investment Department of
the Ministry of Commerce, Tang Wenhong,
to continue the above-mentioned spirit.
Tang Wenhong said that in order to
implement the deployment of the Central
Economic Work Conference, the Ministry
of Commerce will comprehensively
implement the pre-entry national treatment
plus negative list management system,
further enhance the level of investment
liberalization and facilitation, and create a
world-class foreign investment environment.
AmCham South China encourages all its
members to submit any comments on the draft
law through the Chamber. A copy of the draft
law will be available on the Chamber website
www.amcham-southchina.org as soon as it is
available to the public.■
7 AmCham South China
