Standing Committee Of The National People's Congress: The State Council Is Formulating Regulations For The Implementation Of Foreign Investment Law.

On August 21st, Zang Tiewei, spokesman of the Standing Committee of the National People's Congress, said that the foreign investment law adopted by the two session of the thirteen National People's Congress in March 15th is a basic law regulating foreign investment. On the basis of summing up our experience in utilizing foreign capital for 40 years of reform and opening up, we adhere to the principle of consistency between domestic and foreign capital, which provides a strong legal guarantee for opening wider to the outside world, promoting foreign investment and protecting the legitimate rights and interests of foreign investment. It also demonstrates our country's distinct stand to unswervingly push for the expansion of opening up.

Zang Tiewei said that at present, the State Council is working hard to formulate regulations for the implementation of foreign investment law, and relevant departments are also working hard to formulate supporting provisions to ensure the smooth implementation of the foreign investment law.