China's draft foreign investment law is well received among foreign investors, who believe it will further improve the country's business environment.
"The law is a full testament to China's determination and confidence in opening wider to the outside world and promoting foreign investment in the new era," Wang said.
The state shall guarantee that foreign-invested enterprises are able to participate in standard-setting work on an equal footing in accordance with law, and mandatory state standards shall apply equally to them, according to the document.
A draft foreign investment law will be submitted to the second session of the 13th National People's Congress (NPC) for deliberation, according to an explanatory document on the draft available to the press Friday afternoon.
"The LG group entered China as early as 1993, and has witnessed the improvement of China's investment environment over the years," said Yu Qinjiang, head of LG Display in China.
A draft of China's foreign investment law will be submitted to the upcoming plenary session of the National People's Congress (NPC), which is scheduled to open on March 5.
The Standing Committee of the National People's Congress (NPC) on Tuesday started reviewing a new draft of the foreign investment law, the latest move to promote the country's opening-up initiative.
The Standing Committee of the National People's Congress on Tuesday started reviewing a new draft of the foreign investment law.