Draft eyes equal treatment for investors from abroad

Foreign enterprises will receive pre-established national treatment plus a negative list management system, and will enjoy the same rights as domestic companies to participate in activities including issuing stocks and bidding for government procurement projects in China, according to a draft law made public by the country's top legislature on Sunday.

The draft foreign investment law was submitted to the Standing Committee of the National People's Congress for a first review. It is expected to replace the country's three current statutes concerning wholly foreign-owned entities, with the move seen further promoting the rights of foreign investors.

Capital contribution, profits and capital gains of foreign investors in China can be freely transferred out of the country as either renminbi or in other foreign currency denominations, according to the draft law.