The global superpower country, China has approved a new foreign investment law that aims to widely seen as an effort to facilitate US trade talks.
Delegates voted overwhelmingly in favor of the law on the final day of the National People’s Congress (NPC).
The bill was crafted to seen as a possible olive branch to the US as negotiators from both countries work to resolve their bruising trade dispute.
But some argue it does not fully address the concerns foreign firms have about doing business in China.
HOW DID THEY VOTED?
Delegates at the NPC – the annual meeting of China’s legislature – passed the bill with 2,929 in favor, eight against and eight abstentions.
THE LAW EFFECTIVITY:
The law will come into effect on 1 January 2020.
The measure comes roughly three months after a first draft was discussed, a particularly fast turnaround in China, as Washington and Beijing work to resolve their trade dispute.
The trade battle has seen both sides impose tariffs on billions of dollars worth of one another’s goods since last year.