On March 15, 2019, the Foreign Investment Law1 (the “Foreign Investment Law”) was adopted at the second session of the thirteenth National People’s Congress (the “NPC”) of the People’s Republic of China (the “PRC”)2 The Foreign Investment Law will take effect on January 1, 2020; and the PRC Sino-Foreign Equity Joint Venture Law3 (the “EJV Law”), the PRC Wholly Foreign-Owned Enterprise Law (the “WFOE Law”) and the PRC Sino-Foreign Cooperative Joint Venture Law 4 (the “CJV Law”) will be repealed.
