Expert: Foreign Investment Law addresses technology transfer IP issue
By CGTN’s Hu binyi
China's top legislature voted Friday on the draft of the Foreign Investment Law and plan to implement it at the beginning of next year. This will transform the way foreign entrepreneurs enter the Chinese market of 1.4 billion people.
Professor Scott Appleby, dean of the Keough School of Global Affairs, at the University of Notre Dame commented the law provide more openness and fairness environment for foreign investment, adding that the law is addressing major concern - technology transfer intelligence property.
He also shared his point that China may move from No. 46 in terms of ranking easy places for business to top ten if the actual regulation and ways of law implemented like in sample man did.
John Gong, a professor at the University of International Business and Economics, added the most important of the law is the legal foundation for anything that foreign companies can challenge the authorities.
"So far the U.S. companies complained legal commerce in China… it is not a healthy channel; we need direct dialogue between the U.S. business people and the Chinese government, we need to have an institution for both side to talk and address issues," Gong said.
Foreign Investment Law is not only proof of China's opening-up market, but also a bridge for foreign companies and Chinese government communication. Professor Scott Appleby said international business people are optimistic about the Chinese market, "positive, promising, horizon. People will watch with great interest in the United States, also with the great level of scrutiny."