China sets new security rules on foreign investment
Chinese authorities on Saturday released rules on foreign investment security review to safeguard national security while spurring foreign investment, Chinese authorities said in a statement.
The rules, jointly released by the National Development and Reform Commission (NDRC) and the Ministry of Commerce (MOC), specified provisions concerning the security review mechanism on foreign investment.
These include the types of investments subject to review, review scopes, and procedures, among others.
Approved by the State Council, the 23-clause rules aim to effectively forestall and resolve national security risks while actively promoting and protecting foreign investment.
This aims to support the country’s higher-level opening-up and facilitate the new development paradigm, according to the statement released by the two government departments.
Conducting security reviews on foreign investments that affect or may affect national security is a regular international practice.
China adopted a related review mechanism in 2011, and the country’s management system on foreign investment has undergone significant reforms over the past decade.
The office of the working mechanism of the security review will be set up under the NDRC, which will lead the task along with the MOC, according to the statement.
The rules will take effect 30 days after the release.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
States
Independence: NBA urges Nigerians to expect better future
The NBA said that ordinary Nigerians should be deriving benefit from the subsidy removal rather than hardship.
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
World
U.S. Attacks: Iran’s IRGC threatens to invade countries, strike American military bases
Iran’s Islamic Revolutionary Guard Corps has threatened to attack neighbouring countries and American bases amid renewed attacks from the United States.
States
Family releases burial timetable for Afenifere leader Fasoranti
The family of the late Afenifere leader and elder statesman, Reuben Fasoranti, has announced burial arrangements for the Yoruba leader.
Anti-Corruption
Lawyer petitions EFCC to probe Makinde’s spending, N30 billion Bodija explosion fund
A legal practitioner, Akinloye Olusegun, has petitioned EFCC to investigate Governor Seyi Makinde’s expenditures from his assumption of office in 2019 to 2026.
Education
Gov Zulum seeks AU support to return 800,000 out-of-school children to classrooms
Mr Zulum pledged to strengthen the state’s partnership with the African Union to expand access to education for about 800,000 out-of-school children.
Rights
KSACA moves to standardise premarital medical certificates in Kano
It said the engagement also aimed to develop practical mechanisms for issuing and disseminating uniform premarital medical certificates across Kano’s 44 council areas.
Lagos
Lagos: At least one killed in Fadeyi building collapse
The Lagos government said the cause of the collapse had not yet been determined and relevant regulatory agencies would investigate it.
