Liu Zhiqin: Chinese Market

liu zhiqin: But 10 years ago, the scope and depth for China's opening-up were immature and the country lacked experience and talent to help ease market access for foreign investors in sectors like finance, Liu noted, according to Global Times China. As more foreign capital has entered the Chinese market, due legislation is needed to protect their interests, he said. Many people wondered why such a law came into being at this moment instead of 10 years ago In fact, it is the proper timing at present since the country has enough resources, talent, experience and a relatively mature market to attract overseas capital, Liu Zhiqin, a senior research fellow at the Chongyang Institute for Financial Studies at Renmin University of China, told a briefing in Beijing. The new foreign investment law, which was adopted by the country's top legislature on March 15, is the first of its kind and will come into effect on January 1, 2020. With the new law comes fundamental and institutional change, as it shows that China's confidence in its system has reached a new level and the domestic market has gradually become mature, Liu said. It provides a legal basis for various aspects of foreign investment ranging from classification to management and gives overseas investors equal treatment, greater access and better legal protection. (news.financializer.com). As reported in the news.