China's parliament approves new foreign investment law

Chinas parliament approves new foreign investment law

BEIJING (Reuters) - China's parliament voted on Friday to approve a new foreign investment law.

The law will replace existing regulations for joint ventures and wholly foreign-owned enterprises and is designed to ease foreign concerns about China's investment environment, especially as China and the United States work to try to end a trade war.The law will come into effect on Jan. 1, 2020, the state news agency said.

(Reporting by Lusha Zhang, Gao Liangping and Ben Blanchard)

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Updated Date: Mar 15, 2019 07:05:46 IST

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