The draft Foreign Investment Law clearly stipulates that China shall adopt the management system of national treatment plus negative list before admission to foreign investment and abolish the management mode of case-by-case examination and approval system. For the areas where foreign investors are prohibited and restricted to invest, the list will be clearly listed, and Chinese and foreign investment will enjoy the same treatment when the list is fully opened. This is a fundamental reform of our foreign investment management system, which will improve the openness, transparency and predictability of the investment environment and provide more powerful legal protection for promoting the formation of a new pattern of comprehensive opening up.
At the same time, the draft has made clear protection provisions for expropriation and compensation, intellectual property protection and technology transfer, which are of general concern to foreign investors.
Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan are all part of China. At the same time, Hong Kong, Macao and Taiwan belong to separate tariff zones. Investment from Hong Kong, Macao and Taiwan is different from foreign investment, and is not entirely equal to domestic investment. In practice, investment in Hong Kong, Macao and Taiwan has been managed with reference to foreign investment. The enactment of the foreign investment law will not change the legal application arrangements for the states investment in Hong Kong, Macao and Taiwan. The relevant systems will be constantly revised and improved according to the needs of practice to further provide a more open and convenient business and development environment for Hong Kong, Macao and Taiwans investment. Thank you for your question.