This was in line with international practice and would help balance the economic benefits of further opening with the need to ensure national security, the NDRC said. Publishing the investment rules is "not protectionism or backtracking from opening-up policies," the NDRC said, asserting that "opening up without protection is not sustainable." Major economies like the United States, the European Union, Australia, Germany and Japan have established or improved their review mechanisms on foreign investment in recent years, it said. The rules, which take effect in 30 days, follow a foreign investment law published last year aimed at broadening market access for overseas investors. Last year's foreign investment law made it clear China would set up a review mechanism for foreign investment, and foreign companies and trade associations have been awaiting the new rules so that they can make investment decisions, the NDRC said.

Source: bd News24 December 19, 2020 14:26 UTC