The Foreign Investment Law Implementation Regulations come into force: but why all the last minute changes?

On December 31, 2019, the State Council of the People's Republic of China (the "PRC" or "China") promulgated the PRC Foreign Investment Law Implementation Regulations (the "Implementation Regulations"), which came into effect the very next day, and now sit alongside the PRC Foreign Investment Law, marking the commencement of a new era of foreign investment administration in China. In a surprise move, the regulators made a great number of changes in the final version of the Implementation Regulations as compared to the draft that was released for public comments two months ago.

Some of these changes were merely adjustments to wording or reorganization and rephrasing of language, but some were, in our view, quite substantial. In the present note, we briefly explain what these changes are but place our emphasis on the practical and legal implications of the new provisions of the Implementation Regulations.

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