China amends law on forced technology transfers for foreign investors

EPA-EFE/ROMAN PILIPEY

President Xi Jinping is seen on a screen delivering a speech during the closing of the first session of the Chinese Communist Party's 13th National People's Congress at the Great Hall of the People in Beijing, March 20, 2018.

China amends law on forced technology transfers for foreign investors


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China will stop forcing foreign companies to transfer proprietary technology to foreign investors, including joint ventures, contractual joint ventures, and foreign-owned enterprises,

The deliberation on the new bill at the National People’s Congress, the main legislature for the Communist People’s Republic, could take months before a final vote can be held.  If passed, the law could address one of the main disputes in the Sino-American trade standoff that has affected global growth projections as the new draft law new draft law forbids local governments from erecting market entry or exit barriers, to force technology transfers, according to China’s state-run daily Securities Times.

China’s finance ministry announced on December 24 tariff cuts to 706 US products, effective from January 1.

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