ANNOUNCEMENT 02 Mar 2019
March 2nd, 2019 - The Chinese State Council announced it was removing some restrictions on foreign investment.
NUMBER OF INTERVENTIONS
PRC State Council, March 2nd, 2019. (中华人民共和国国务院令 第709号 国务院关于修改部分行政法规的决定)
On March 2nd, 2019, the Chinese State Council penned Edict No.709 (hereafter, 'Announcement'), which changed some articles in existing regulations.
Among the changes, were some significant alterations to the Technology Import Export Regulations (TIER), a contested Chinese legal framework that had been cited in various international complaints against China, for example, the Section 301 Report on China's forced technology transfer regime from the United States (see related act).
The Announcement removed three restrictive clauses, namely:
The Announcement was released shortly after the 'New Foreign Investment Law' (see related act), which was also widely seen as a response to international complaints.
In March, 2019, the Chinese State Council released a series of amendments to some rules regarding foreign business in China in their Edict No.709 (hereafter, 'Announcement').
As well as various other changes, the Announcement also removed restrictions on foreign investments in the international shipping businesses in China.
The changes came into effect upon the Announcement's promulgation, i.e. March 18th, 2019.