Meeting with NDRC and MOFCOM on Draft Regulation on Foreign Investment Security Review

2017-11-23 | Beijing

The Chamber was invited to attend a joint meeting with Vice Chairman Ning Jizhe of the NDRC and Assistant Minister Li Chenggang of the MOFCOM to discuss on the draft regulation on foreign investment security review. Vice Chairman Ning firstly briefed on the development of the foreign investment security review system in China and the purpose of having such a system to ensure China’s opening up and its national security. DDG Liu Hongkuan introduced the implementation of pilot review system in past years. According to DDG Liu, only one case was rejected out of 28 cases. Sara commented on the draft regulated distributed at the meeting and voiced recommendations together with other participants, such as calling for a public consultation about the draft, broad scope of areas to be reviewed, vague wording in certain articles, its relations with the existing regimes governing foreign investment and possible overlapping implementation with anti-monopoly review, etc. Vice Chairman Ning said that the NDRC and the MOFCOM will review the comments received at the meeting and reassured foreign investors of the opening up of China. The review system is just a tool to better facilitate China’s opening up to the outside world. However, due to their concerns over possible misinterpretation of the draft, there will be no public consultation before the regulation is released.