Chinese Basic Legal System Relates to Foreign Investment --Special Law
Foreign investment’s body is "foreign", which emphasizes on the foreign nationality, including China companies in overseas that have been set up in accordance with the relevant laws of other countries, enterprises, other economic organizations and individuals with foreign nationality.
In addition, due to the historical, political, legal and other reasons, foreign investors also include the Hongkong Special Administrative Region, Macao Special Administrative Region and Taiwan investors.
The main legal level
The first level is the three largest foreign investment law, which includes The Law of the People's Republic of China on Chinese-Foreign Equity Joint Ventures, Law of the People’s Republic of China on Sino-Foreign Contractual Joint Ventures and Law of the People’s Republic of China on Foreign-Capital Enterprises. The three laws constitute of China foreign investment in basic legal system.
The second level is administrative regulations, constituting the main content of the legal system of foreign investment. And this level along with the three basic laws together compose of the main legal system which is the legitimacy of foreign investment behavior identification.
The third level is the relevant industrial policy of the central government. The biggest feature of this level is the introduction of flexible manner, a wide range of adjustment, closely linked to the economic situation at home and abroad and also has the largest impact on current legislation system, which can amend the existing industrial policy at any time.
The fourth level is the regulations of relevant departments of the central government, the legislative level plays a regulatory role on the implementation of the law by a the micro perspective. The main body of legislative is a single or multi-sectoral joint departments.
The fifth level is the relevant policies introduced by the government and the local people's congress.
The sixth level is the other normative documents. It is actually the product of the general government legislative acts, including the red tapes introduced by the relevant competent departments of the central government to the local government and relevant department.
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