By Wu Ye King & Wood Mallesons’ Shenzhen office.
It is understandable that the Standing Committee of the National People’s Congress (“NPC”) chose to issue its Decision to Revise the Wholly Foreign-owned Enterprises Law (“Decision”) on September 3, 2016. It has been more than 18 months since the Foreign Investment Law of the People’s Republic of China (“Draft for Public Comment”) was publicized, and shortly the trial implementation of pre-establishment national treatment and the negative list approach for foreign investment in four Free Trade Zones will expire. These all point to the fact that the basic law covering foreign investment in China has to be revised but the conditions for a fundamental change are not yet ripe.
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