Regulations of Beijing Municipality on Foreign Investment (Draft) were Deliberated for the First Time
ISSUING AUTHORITY:
Beijing Municipal People's Congress
DATE OF ISSUANCE:
November 22, 2023
EFFECTIVE DATE:
To Be Determined
On November 22, 2023, the Regulations of Beijing Municipality on Foreign Investment (Draft) (the “Draft Regulations”) were deliberated for the first time at the sixth conference of the Standing Committee of the 16th Beijing Municipal People's Congress.
The Draft Regulations provide for various feasible provisions on national treatment, equal application, intellectual property protection, government procurement, dispute resolution mechanism in strict compliance with the applicable provisions of superior legislations. The Draft Regulations also contain provisions targeting demands of market entities and multiple common concerns of foreign-invested enterprises such as policy stability, participation in government procurement and standards formulation, facilitation of reinvestment and cross-border flow of data and funds. In addition, in the Draft Regulations, Beijing characteristics are highlighted; the major project service system, “service packaging” and “service manager” and similar measures explored and developed in the Beijing foreign investment practices are introduced, so as to further optimize foreign investment environment in Beijing. Specifically, foreign investors are encouraged to give priority to investments in strategic emerging industries; formulation of policies and regulations in relation to foreign investment shall be subject to fair competition review; registration of foreign-invested enterprises will be fully completed online; legal and free flow of funds of foreign investors will be protected; full-process services for major foreign investment projects will be provided.
Reference:
《北京市外商投資條例（草案）》首次審議 促進外資企業數據和資金跨境流動便利
