Beijing reassures investors in Hong Kong, Macau and Taiwan over new foreign investment law
- New law set to be passed this week at the National People’s Congress
- Investments in mainland will still be considered “foreign”, with no effect on legal status
Beijing’s top official on Hong Kong affairs has reassured the city’s investors, as well as those from Macau and Taiwan, that they will be covered by China’s new foreign investment law set to be passed this week at the National People’s Congress (NPC).
The remarks by Zhang Xiaoming, director of the central government’s Hong Kong and Macau Affairs Office, were the first time a Beijing official overseeing the city’s affairs had confirmed that the new law would not change the legal status of investments from Hong Kong, Macau and Taiwan – specifically, that they would still be considered “foreign” investments.
Zhang said the details of the law would be clearly defined in official documents to be issued later.
The new law – partly to address concerns raised by Washington – bans mandatory technology transfers from foreign firms and encourages technological cooperation on a voluntary basis.
“The NPC has consulted relevant departments, the two governments of [Hong Kong and Macau]
