“Proposed Draft of China’s Overseas Direct Investment Law and Paraphrase”, a book written by Doctor Shen Linping, senior partner of Dacheng, was recently published by Law Press China.
The book was comprised of two sections. Section 1 is titled “Legislative Basis of Overseas Direct Investment”; Section 2 is titled “Proposed Draft of China’s Overseas Direct Investment Law and Paraphrase”.
The first section is divided into four chapters. Chapter 1 summarizes the development of China’s overseas direct investment policies as well as the “Going-Out” strategy; Chapter 2 reviews China’s overseas direct investment legislation in an effort to understand the status quo in this regard; Chapter 3 is a literature review on domestic scholars’ studies on the legislation of overseas direct investment for the purpose of finding theoretical support for the book; Chapter 4 looks at policies and legislation of other countries on overseas direct investment to gain some insights and experience from abroad.
In Section 2, the proposed draft follows a pattern in which every article is accompanied by legislative explanation, reasons for legislation and instances. The explanation explains objectives of legislation, definition of terms, and scope of application; reasons for legislation illustrates the necessity of enacting relevant articles and institutions. In the reasoning process, the author quotes studies of other scholars and fundamental legal theories to provide adequate theoretical basis for his own thoughts and meanwhile improve the book’s academic value. The author also points out the practical significance of establishing certain institutions and uses examples to illustrate the utility of the draft.
Professor Li Shuguang from China University of Political Science and Law and senior partner Xu Yongqian from Dacheng acted as consultants for the book. Peng Xuefeng, standing committee member of CPPCC and chairman of Dacheng, wrote words of recommendation for the book. Peng says, the fourth plenary session of the 18th CPC Central Committee explicitly pointed out that we should enact overseas investment laws and regulations as early as possible, straighten out overseas investment management, safeguard the principal status of investing businesses and individuals, and improve rights and interests protection, investment promotion and risk warning mechanisms. The central committee also encouraged third parties to participate in the law-making process. Peng believed that as professionals engaged in law practice and theoretical research, lawyers and scholars are an important force that should be mobilized into the cause of scientific and democratic legislation. Doctor Shen participated in the drafting process of “Proposed Draft of Overseas Direct Investment Law of People’s Republic of China”. His thoughts and explanations on the legislation of China’s overseas direct investment law are of great signficance for strengthening protection of rights and interests and regulation of Chinese investors investing abroad.
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