China’s New Foreign Investment Law and Its Impacts on Existing FIEs [Brought to you by Global Law Office]
BY David Fu |
On March 15, 2019, the PRC national People’s Congress promulgated the People’s Republic of China (“PRC” or “China”) Foreign Investment Law (the “Foreign Investment Law”), which will become effective as of January 1, 2020. Upon its implementation, the Foreign Investment Law will supersede and replace the existing PRC Sino-foreign Equity Joint Venture Law (the “EJV Law”), PRC Sino-foreign Cooperative Enterprise Law (the “CJV Law”) and PRC Wholly-foreign Owned Enterprise Law (collectively, the “FIE Laws”), which have been governing foreign investment in China for several decades.