SCOFCOM Call for Comments on Foreign Investment Law Draft

2015-01-28 | Shanghai

On January 28, Senior Government Affairs Manager Helei Fu, along with L&C Working Group members Michael Tan and Lynn Zhao, attended a call-for-comments event on Foreign Investment Law (FIL) Draft organised by Shanghai Commission of Commerce (SCOFCOM). The meeting aimed to help people have a better understanding of FIL Draft and solicit opinions from various parties. Attendees included local scholars, representatives of local foreign chambers and lawyers. SCOFOM Deputy Director General Gu Jun hosted the meeting and two MOFCOM officials joined the discussion. The MOFCOM officials introduced audience the legislative background and said China would need a new law to regulate foreign investments after its 30 years of reform and opening-up. In Q&A session, EUCCC representatives, together with other participants, raised some common concerns, i.e., what the relationships are between the FIL and other laws and regulations, how MOFCOM coordinates with other departments to conduct National Security Review, impact on certain industries from change of VIE controls, etc. EUCCC is currently in the process of collecting comments from member companies and will consolidate and submit comments to MOFCOM by February 17.