Foreign investment law essential amid changing times, says top legislature

The formulation of the foreign investment law follows strict legislative processes, is based on a sufficient amount of public opinion and represents a consensus, legal professionals said.

The law, which is undergoing review by national legislators at the ongoing session of the National People's Congress, is expected to be put up for a vote on Friday.

If passed, it will serve as the fundamental law covering foreign investment in China. And the three existing laws on Chinese-foreign equity joint ventures, wholly foreign-owned enterprises and Chinese-foreign contractual joint ventures will be abolished, according to the Legislative Affairs Commission of the NPC Standing Committee.