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April 3, 2019 China enacts new foreign investment law On 15 March 2019, China’s National People’s Congress approved the Foreign Investment Law of the PRC (the Foreign Investment Law). The Foreign Investment Law will become effective on 1 January 2020 and will replace existing foreign investment laws. The key features of the Foreign Investment Law are as follows:
The Foreign Investment Law intends to open the basic framework of investments to foreign investors, and to actively promote, protect and regulate the foreign investments. While many of the rules are still pending further interpretations, it is anticipated that the respective government authorities will provide clarifications and guidance of the rules. For additional information with respect to this Alert, please contact the following: Ernst & Young Tax Services Limited, Hong Kong
Ernst & Young (China) Advisory Limited, Shanghai
Ernst & Young (China) Advisory Limited, Beijing
Ernst & Young (China) Advisory Limited, Shenzhen
Ernst & Young LLP (United States), China Tax Desk, New York
Ernst & Young LLP (United States), China Tax Desk, Chicago
Ernst & Young LLP (United States), China Tax Desk, San Jose
Ernst & Young LLP (United States), Asia Pacific Business Group, New York
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