China to pass new foreign investment law in the wake of a trade war

By Akshay Kedari  | Date: 2019-03-04

China to pass new foreign investment law in the wake of a trade war

China is said to maintain a highly clear policy with respect to its relationship with the United States.

China is reportedly on the verge of passing a novel foreign investment law in a bid to level the playing field for investors worldwide equipped with legal safeguards on technology transfer and IPR. Sources familiar with the knowledge of the matter claim that these were a part of some of the demands of President Donald Trump drawn up to end the trade war between both the countries.

Reportedly, China and the United States have been embroiled in an ugly trade war ever since the imposition of heavy tariffs on aluminum and steel items imported from China, by President Trump, since March last year. In consequence, China went on to impose heavy tariffs on American imports worth billions of dollars, the result of which sparked fears worldwide regarding a trade war.

In a bid to reach the end of the tunnel, China has scrambled up to hurriedly pass the new foreign investment law, that will apparently be submitted to the National People's Congress (NPC) – the top legislature, for a review. Speaking on the urgency of delivering the same, Zhang Yesui, spokesperson, NPC, was quoted stating that the interests of both the nations are severely interwoven and a U.S.-China relationship on the brink of conflict is not in anyone’s interest.

Elaborating further, Zhang asserts that China maintains a highly clear policy with respect to its relationship with the United States, that seemingly is not encompassed with conflicts, but is based on a no-confrontation, win-win, mutual respect cooperation.

Reliable reports affirm that major details of the deal are still largely unsettled, given that pivotal discussions are still on the go. However, according to The New York Times, both the nations seem to have agreed on a certain pact that may entail Beijing to make mammoth purchases of American energy and agricultural goods and also reduce specific barriers that have been restraining American firms from operating in China.

Also, it is being speculated that the U.S. may,  in turn, drop its tariffs on perhaps a minimum of USD 200 billion of the USD 250 billion worth of Chinese imports that are presently subject to American levies.

About Author

Akshay Kedari     aeresearch.net

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More >>

More News By Akshay Kedari

Fitbit faces privacy complaints in EU over alleged unlawful data exports

Fitbit faces privacy complaints in EU over alleged unlawful data exports

By Akshay Kedari

Fitbit, a Google company, is reportedly facing a series of privacy complaints within the European Union. These complaints revolve around allegations that the company is engaging in unlawful exporting of user data, thereby violating the EU's strin...

Social network X makes API changes impacting developers & enterprise clients

Social network X makes API changes impacting developers & enterprise clients

By Akshay Kedari

Social network X, previously known as Twitter, has reportedly unveiled more modifications that involve the retirement of certain legacy API endpoints. The company implemented adjustments to its API pricing in March, resulting in elevated costs for...

Zapata AI and IonQ joins hands to push boundaries of Generative AI

Zapata AI and IonQ joins hands to push boundaries of Generative AI

By Akshay Kedari

Zapata AI, a software enterprise dedicated to addressing intricate computational challenges, has reportedly unveiled a strategic partnership with IonQ, a leading figure in quantum computing hardware and commercial quantum application advancement. The...

Meta unveils AudioCraft for audio & music creation using Generative AI

Meta unveils AudioCraft for audio & music creation using Generative AI

By Akshay Kedari

The tech giant Meta has reportedly introduced AudioCraft, a framework capable of generating high-quality audio and music based on short text prompts. The AudioCraft framework aims to simplify the use of generative models for audio by providing a c...

GSK Pharma reports 11% surge in Q1 profit fueled by Vaccine Demand

GSK Pharma reports 11% surge in Q1 profit fueled by Vaccine Demand

By Akshay Kedari

GlaxoSmithKline Pharmaceuticals, the Indian arm of GSK plc based in the UK, reportedly recorded an 11% increase in its first-quarter profit, driven by robust demand for its vaccines. According to the company's statement, the consolidated profi...