16th October 2019
For all those with investment interests in China, on March 15, 2019, China’s National People’s Congress (NPC) passed the Foreign Investment Law (FIL) of the People’s Republic of China. The FIL will take effect from 1 January 2020.
This new law showcases the government’s willingness to deepen reform and open up its economy. It is a modernisation of its old laws to reflect the changing global economy and addresses concerns voiced by international companies operating in China.
The new Foreign Investment Law contains 42 articles under the following six chapters:
- general provisions
- investment promotion
- investment protection
- investment management
- legal liability
- supplementary provisions.
Dickson Leung, Partner at MGI Worldwide accountancy network member firm LehmanBrown in China said, “The new laws aim to create a level playing field between domestic and multinational companies."
Lehman Brown has prepared a paper entitled "Release of new foreign investment law and its impact."
You can access the full paper HERE.
LehmanBrown International Accountants is a member of MGI Asia with office locations in Beijing, Guangzhou, Hong Kong, Macau, Shanghai, Shenzhen and Tianjin, China. Dickson Leung is a Senior Partner at the firm and also North Asia Circle Leader for MGI in Asia. Dickson has over 24 years of accounting and financial experience in China and the firm has been a member of MGI Worldwide since 2006.
If you have any questions, please contact MGI Worldwide member Dickson Leung at firstname.lastname@example.org.
For further details please visit LehmanBrown International Accountants' member profile page HERE or visit their website HERE.
MGI Asia is part of MGI Worldwide, a top 20 ranked international accounting network with some 5,200 independent auditors, accountants and tax experts in over 260 locations around the world.
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