A draft foreign investment law will be submitted to the second session of the 13th National People's Congress (NPC) for deliberation.
The foreign investment law, once adopted, will become a new and fundamental law for China's foreign investment, says the explanation to be delivered by Wang Chen, vice chairman of the NPC Standing Committee, to deputies attending an NPC plenary session.
The draft law has gone through two readings by the NPC Standing Committee, which made the decision in late January to submit the draft for a third reading.
With unified provisions for the entry, promotion, protection, and management of foreign investment, it is an innovative improvement of China's foreign investment legal system, says the explanation.
The foreign investment law is a comprehensive and fundamental set of legal standards for foreign investment activities in China under new circumstances, and shall play "a leading role as an overarching law in this field," it says.
"It is a full testament to China's determination and confidence in opening wider to the outside world and promoting foreign investment in the new era," reads the document.
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