On 15 March 2019, the National People’s Congress of the People's Republic of China (the “PRC”) promulgated the PRC Foreign Investment Law (the “FIL”). The FIL will come into effect on 1 January 2020.
The FIL has altogether six chapters, i.e. general provisions, investment protection, investment promotion, investment management, legal liability and supplementary provisions, with in total 42 articles. The key issues of the FIL are national treatment of foreign investment and the negative list for foreign investment. The FIL also focuses on the promotion and protection of foreign investment and provides general principles of a foreign investment management system such as an information reporting system and a security review system.
To give you an overview of the FIL, we summarize its main content and highlights. Please click here (https://www.cms-china.info/insight/2019/03_Corporate/Newsletter_Corporate.html) to read the full version of the article.