China is ready to enact a new law to "promote and protect foreign investments in the country", to encourage the opening of its economy. This was announced by the spokesman of the National People's Congress, Zhang Yesui, on the eve of the opening of the annual plenary session of the highest Chinese legislative body. Zhang explained that the currently existing laws on foreign investment in China will be coordinated and brought together in new regulation. The new law will seek to ādevelop, with mutual benefit, high quality strategy and trade, as well as liberalize and facilitate investmentsā. The same attention will also be paid to both China's investments abroad and foreign investments in the country, and access to the market will be facilitated. "The creation of a transparent, stable and predictable environment for foreign investments and the protection of their legitimate rights and interests" is the third objective, added Zhang, at the press conference at the Great Hall of the People in Beijing. Finally, China will offer "fair treatment" to international companies, on an equal footing with domestic companies.
