'Timely' regulations set to attract more foreign companies to Chinese market

The drafting of a foreign investment law is "timely" and "necessary", and is expected to foster the best-ever playing field for foreign companies while bolstering the confidence of domestic companies to compete globally, members of the National Committee of the 13th Chinese People's Political Consultative Conference said on Saturday.

"It is a timely law," said Zhou Hanmin, a member of the Standing Committee of the 13th CPPCC National Committee, during a panel discussion on foreign investment law at the ongoing two sessions.

"Many detailed articles will directly dispel foreign investors' unnecessary concerns. It (the draft law) also illustrates China's unswerving willingness to offer them a long-term and stable law, (and) a transparent and open business environment," he said.