News 15 march — 12:58

Bill aims to ease global concerns


China has passed a new foreign investment law in a move widely seen as an effort to facilitate US trade talks, BBC reports.

Delegates voted overwhelmingly in favour of the law on the final day of the National People's Congress (NPC).

The measure is seen as a possible olive branch to the US as negotiators from both countries work to resolve their bruising trade dispute.

But some argue it does not fully address the concerns foreign firms have about doing business in China.

Delegates at the NPC - the annual meeting of China's legislature - passed the bill with 2,929 in favour, eight against and eight abstentions.

The law will come into effect on 1 January 2020.

It comes roughly three months after a first draft was discussed, a particularly fast turnaround in China, as Washington and Beijing work to resolve their trade dispute.

The trade battle has seen both sides impose tariffs on billions of dollars worth of one another's goods since last year.

Latest news