Chinese Premier Li Keqiang says foreign investment law shows Beijing is serious about opening economy further
- New foreign investment law will improve market access, protect intellectual property rights and end forced technology transfer, Li says
- Foreign observers say law is step in right direction, but concerns remain that law does not go far enough amid doubts that it will be effectively implemented
The passage of the new foreign investment law shows China is serious about addressing foreign investors’ concerns, as it continues to open up its domestic market, Chinese Premier Li Keqiang said on Friday.
But while foreign observers agreed the law is a step in the right direction, concerns remain that it does not go far enough. There is also widespread doubt among the foreign business community that it will be effectively implemented.
The law will ban forced technology transfer and illegal government “interference” in foreign business practices.
At the annual press conference following the closing of the NPC, Li did not directly respond to questions about whether revisions to the law were in response to US demands for better market access, intellectual property protection and an end to forced technology transfer to conclude a deal to end the trade war. But he sought to reassure that the government would protect the interests of foreign investors.
