China's rush to pass a new foreign investment law on Friday is likely not enough to appease the demands of the U.S. in ongoing trade negotiations, analysts said.
div > div.group > p:first-child"> Beijing's largely symbolic National People's Congress ended Friday with a ceremonial endorsement of a law that addresses specific issues the foreign business community has long complained about.
Following increasing frustration by foreign businesses about their ability to compete fairly with Chinese companies, the U.S. and China became embroiled in trade tensions last year. A few hours later, the symbolic gathering of delegates endorsed the new foreign investment law. It took just about three months from the time the NPC Standing Committee began soliciting comments on its first draft.
Such a clause essentially reinforces the unequal footing that foreign and Chinese companies have in accessing each others' countries. U.S. companies have complained that they get less access in China than Chinese companies have in America.
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