BEIJING — China’s top legislature is expected to pass the country’s first Foreign Investment Law this week at a time when negotiators from Beijing and Washington work to hammer out a trade deal. Analysts and business groups say the legislation is a step in the right direction, but still falls short. In some ways, they add, it even raises new concerns that negotiators need to address before the two sides reach a deal.
For decades, China has been grappling with the question of just how far and how fast it should open up its state directed economy, and steps — while always welcome — have long lagged behind expectations. The Foreign Investment Law is not different.
İn a statement, the American Chamber of Commerce in China (AmCham China) said it welcomes the law and appreciates the effort to improve the investment environment.
“We are concerned, however, that such an important and potentially far-reaching piece of legislation will be enacted without extensive consultation and input from industry stakeholders, including Foreign Invested Enterprises,” the statement said.
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