China Weighs Comprehensive Reforms to Foreign Trade Law
(MENAFN) Chinese lawmakers on Monday began reviewing a proposed revision to the country’s Foreign Trade Law, which introduces a comprehensive set of reforms aimed at modernizing national trade policies.
The draft, comprising 11 chapters and 80 articles, was presented to the Standing Committee of the National People's Congress for further deliberation during its current session.
Key elements of the revision include the introduction of a negative list system for regulating cross-border trade in services. The proposal also outlines measures designed to foster new models of foreign trade, promote digital trade, and establish a green trade framework to ensure sustainable trade practices.
Another major focus of the draft revision is improving intellectual property protection in the context of foreign trade. Additionally, the proposal calls for the creation of a trade adjustment assistance system to stabilize industrial sectors and supply chains.
The draft also emphasizes the need to develop a more diversified approach to resolving foreign trade disputes.
These legislative changes are designed to further streamline China’s foreign trade environment and ensure that the country remains competitive in global markets.
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