Chinese legislature approves possible olive branch to US - News Summed Up

Chinese legislature approves possible olive branch to US


AFP, BEIJINGChina’s rubber-stamp legislature yesterday approved a foreign investment law that could serve as an olive branch in trade talks with the US. The passage came as US and Chinese negotiators hold complex talks aimed at resolving a months-long trade war that has pounded businesses with tariffs on US$360 billion in two-way commerce. China is also to amend its intellectual property law and “introduce a punitive damages mechanism to ensure that all infringements will be seriously dealt with,” Chinese Premier Li Keqiang (李克強) told reporters at the end of the legislature’s two-week session. Under the bill, foreign investors would enjoy the same privileges as Chinese companies in most sectors, except those placed on “negative lists,” officials said. China would soon announce shorter negative lists and continue to trim them in future, “increasing the scope of what is not prohibited,” Li said.


Source: Taipei Times March 15, 2019 15:56 UTC



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