of reform and opening-up, China is on way to establishing a new system of opening-up featuring institutional and systemic openness, as reflected in a draft law on foreign investment.
And once the National People’s Congress approves the draft foreign investment law, a new round of institutional dividends will be released.
At present, China’s legal system for foreign investment mainly consists of the Law on Chinese-Fo
reign Joint Ventures, the Law on Wholly Foreign-Owned Enterprises and the Law on Chinese-Fo
reign Cooperative Joint Ventures. But since certain sections and articles of these laws cannot deal with the changing gl
obal realities or settle disputes, China has drafted a comprehensive foreign investment law to replace them.
More opportunities for foreign firms
The draft law is designed, among other things, to protect foreign in
vestors’ legitimate rights and interests. And as Premier Li Keqiang said while delivering the
Government Work Report on Tuesday, “China’s investment environment is all set to get better and bet
ter, which means more and more business opportunities for foreign companies in China are a sure thing.”
and chairs. “The first time I chose elms, but in the end I failed.”
He began to use peach trees in 2007, knitting four peach branches t
ogether and putting iron molds on them. Depending on the growth of the br
anches, the trees were shaped each year until they grew into the shapes of a table and chair.
“It took almost 10 years to grow into finished products. Now there are about 800 tables and chairs,” Zhang said, add
ing that once the products are grown, they are then cut, peeled, dried, and polished to be ready for sale.
Zhang took his first set of four peach tree chairs and a round table to the China Impo
rt and Export Fair (Canton Fair) in 2016, catching the attention of several merchants who offered to buy the set.
Zhang was not willing to sell just yet as the set were just sam
ples. The fair strengthened his confidence however, which has continued to pay off.
hina is forecast to spend 900 billion yuan ($134 billion) to 1.5 trillion yuan on 5G network construction fro
m 2020 to 2025, as the nation strives to commercialize the superfast fifth-generation wireless tech
nology, a think tank affiliated with the country’s top industry regulator said on Monday.
At the same time, China’s telecom carriers ar2019/03/05/wwwash001cn-2/to generate 1.9 trillion yuan in
revenue from 5G-related business, according to an article released by the China Academy of Information an
d Communications Technology, which is affiliated with the Ministry of Industry and Information Technology.
At the initial stage of building 5G networks, telecom carriers will first cover the mo
st populated regions and the 5G network construction can coordinate well with existing 4G networks, the article added.
In comparison, Chinese telecom operators spent 720 billion
yuan on 4G network construction from 2014 to 2018, said Zhang Chunfei, one of the three au
thors of the article, adding that the cost of building 5G base stations is higher than that of 4G.