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Fujian Foreign Investment Law goes into effect today to promote implementation

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Taiwan Straits Network January 1 According to the Fuzhou News Network report, in order to promote the smooth implementation of the "People's Republic of China Foreign Investment Law" in Fujian Province , the morning of December 31, 2019, the Fujian Provincial Department of Commerce held in Fuzhou "the implementation of the Foreign Investment Law Media Press Conference".

It is understood that on March 15, 2019, the Second Session of the Thirteenth National People's Congress passed the Foreign Investment Law of the People's Republic of China, which will be implemented from January 1, 2020, replacing the existing "Three Foreign Investment Laws" ( Law on Foreign Investment Enterprises, Law on Sino-foreign Joint Ventures, Law on Sino-foreign Cooperative Enterprises). This is a new basic law in the field of foreign investment, marking a new chapter in China's opening up.

The "Foreign Investment Law" establishes the "four pillars and eight pillars" of China's foreign investment legal system. It consists of six chapters and 42 articles, including six parts: general principles, investment promotion, investment protection, investment management, legal liability, and supplementary regulations.

At the meeting, Chen Jing, deputy director of the Fujian Provincial Department of Commerce, briefed the province on the main work and implementation of the Foreign Investment Law. He pointed out that since the "foreign investment law" was promulgated, the provincial party committee and the provincial government have attached great importance to it and called for the implementation of the "foreign investment law" to give full play to the advantages of multi-regional superposition and take the lead in building a new open economic system. In accordance with the work requirements of the Provincial Party Committee and the Provincial Government, the Provincial Department of Commerce earnestly carried out and implemented the relevant work of the Foreign Investment Law. The first is to promote the orderly development of regulatory work. In conjunction with the Provincial Development and Reform Commission and the Judiciary Department, all localities and provincial-level relevant units have been comprehensively cleaned up and cancelled laws and regulations and regulatory documents that are inconsistent with the current open policy and the Foreign Investment Law, and effectively ensure fair treatment of foreign-invested enterprises. The second is to establish a sound foreign investment promotion system. The province has initially established an investment promotion system, with six regional offices including the Asia Division, West Asia and Africa Division, Europe Division, Oceania Division, Taiwan Division, and Hong Kong and Macau Division of the Provincial Department of Commerce. It has organized domestic and overseas investment promotion activities, and introduced multinational companies. Played a positive role. Promote joint investment promotion at the provincial, city, and county levels, and establish a "9 + 1 + 40" investment work platform (9 districts, cities, and Pingtan comprehensive experimental zones and 40 investment counties with good investment bases) Guide localities based on the characteristics of local industries, clarify the direction of investment invitation, and actively approach services. Establish a linkage mechanism for key development zones, and strive to cultivate a number of characteristic industrial parks with a high degree of industrial agglomeration. Organize joint investment promotion teams of provinces, cities, and counties, relying on the "9 · 8" Investment Fair and other major domestic international investment exhibitions, to contact international investors in a targeted manner to improve the effectiveness of investment promotion. The third is to strengthen foreign investment protection. The Provincial Department of Commerce set up a working group for handling complaints from foreign-invested enterprises to coordinate and resolve the difficulties and problems of foreign-invested enterprises in a timely manner, and effectively protect the legitimate rights and interests of investors. The Fujian Pilot Free Trade Zone has established a comprehensive protection and management mechanism for patents, trademarks, and copyrights as "three-in-one" intellectual property rights, and provides enterprises with "Internet intellectual property rights infringement and certificate cloud services" for free, forming a perfect guarantee system. The fourth is to improve foreign investment management. The United Provincial Development and Reform Commission issued a document to guide localities to implement the implementation of the "two lists and one directory". Fiscal incentives will be given to the newly opened areas of investment in the country where the actual funding has reached a certain level. Promote the establishment of a sound information reporting system. Guide local governments to make the connection between foreign investment filing and approval before and after the implementation of the new law. The fifth is to organize publicity and publicity of the new law. Held 2 training courses on business systems, promoted the holding of the "High-end Forum on Foreign Investment Law 2019", organized professional teams such as lawyers, and carried out the "Foreign Investment Law" and "Two "List of contents" tour.

In the next step, the Fujian Provincial Department of Commerce will continue to conscientiously implement the decision-making and deployment of the Party Central Committee and the State Council on the work of stabilizing foreign investment. In accordance with the work requirements of the Provincial Party Committee and the Provincial Government, implement the supporting laws and regulations such as the Foreign Investment Law and its implementing regulations To do a good job in the promotion, protection and management of foreign investment, at the same time, closely follow the new situations and problems found in the implementation of the new law, timely feedback and coordinate solutions to promote the high-quality development of foreign capital utilization in our province.

The meeting also invited Mr. Tu Chongyu, the chief partner of Fujian Zhongyu Hezhong Law Firm, to share the main information on the promotion of the Foreign Investment Law in our province since this year.

It is reported that in 2018, the scale of actual use of foreign capital in Fujian ranked eighth in the country, and a number of high-end manufacturing and modern service industry key projects have settled in succession. By the end of 2018, the province had accumulatively approved 57,000 foreign-invested enterprises and actually used US $ 129 billion in foreign capital. Foreign-invested enterprises accounted for 38.7% and 34.8% of the province's import and export respectively. The Fortune Global 500 invested 205 projects in Fujian with a total investment of 22.4 billion U.S. dollars. A large number of key foreign-funded key enterprises have settled in Fujian's leading industries, advanced manufacturing and modern service industries, which has led to the formation of a number of highly competitive industrial clusters. (Reporter Lin Wenjing)

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