Foreign Investment Law of the People's Republic of China
中華人民共和國外商投資法
(Adopted at the Second Session of the 13th National People's Congress on March 15, 2019)
（2019年3月15日第十三屆全國人民代表大會第二次會議通過）
Table of Contents
目錄
Chapter I General Provisions
第一章 總則
Chapter II Investment Promotion
第二章 投資促進
Chapter III Investment Protection
第三章 投資保護
Chapter IV Investment Management
第四章 投資管理
Chapter V Legal Liability
第五章 法律責任
Chapter VI Supplementary Provisions
第六章 附則
Chapter I General Provisions
第一章 總則
Article 1 The Foreign Investment Law of the People's Republic of China (hereinafter referred to as "the Law") is hereby formulated in accordance with the Constitution of the People's Republic of China in a bid to further expand opening-up, vigorously promote foreign investment, protect the legitimate rights and interests of foreign investors, standardize the management of foreign investment, impel the formation of a new pattern of all-round opening-up and boost the sound development of the socialist market economy.
第一條 為了進一步擴大對外開放，積極促進外商投資，保護外商投資合法權益，規范外商投資管理，推動形成全面開放新格局，促進社會主義市場經濟健康發展，根據憲法，制定本法。
Article 2 The Law shall be applicable to the foreign investment within the territory of the People's Republic of China ("the territory of China").
第二條 在中華人民共和國境內（以下簡稱中國境內）的外商投資，適用本法。
For the purpose of the Law, foreign investment refers to the investment activity directly or indirectly conducted by a foreign natural person, enterprise or other organization (the "foreign investors"), including the following circumstances:
本法所稱外商投資，是指外國的自然人、企業或者其他組織（以下稱外國投資者）直接或者間接在中國境內進行的投資活動，包括下列情形：
1. A foreign investor establishes a foreign-funded enterprise within the territory of China, independently or jointly with any other investor;
（一）外國投資者單獨或者與其他投資者共同在中國境內設立外商投資企業；
2. A foreign investor acquires shares, equities, property shares or any other similar rights and interests of an enterprise within the territory of China;
（二）外國投資者取得中國境內企業的股份、股權、財產份額或者其他類似權益；
3. A foreign investor makes investment to initiate a new project within the territory of China, independently or jointly with any other investor; and
（三）外國投資者單獨或者與其他投資者共同在中國境內投資新建項目；
4. A foreign investor makes investment in any other way stipulated by laws, administrative regulations or provisions of the State Council.
（四）法律、行政法規或者國務院規定的其他方式的投資。
For the purpose of the Law, a foreign-funded enterprise refers to an enterprise that is incorporated under the Chinese laws within the territory of China and is wholly or partly invested by a foreign investor.
本法所稱外商投資企業，是指全部或者部分由外國投資者投資，依照中國法律在中國境內經登記注冊設立的企業。
Article 3 The State shall adhere to the basic state policy of opening-up and encourage foreign investors to make investments within the territory of China.
第三條 國家堅持對外開放的基本國策，鼓勵外國投資者依法在中國境內投資。
The State shall implement policies on high-level investment liberalization and convenience, establish and improve the mechanism to promote foreign investment, and create a stable, transparent, foreseeable and level-playing market environment.
國家實行高水平投資自由化便利化政策，建立和完善外商投資促進機制，營造穩定、透明、可預期和公平競爭的市場環境。
Article 4 The State shall implement the management systems of pre-establishment national treatment and negative list for foreign investment.
第四條 國家對外商投資實行準入前國民待遇加負面清單管理制度。
For the purpose of the preceding paragraph, pre-establishment national treatment refers to the treatment given to foreign investors and their investments during the investment access stage, which is not lower than that given to their domestic counterparts; negative list refers to special administrative measures for the access of foreign investment in specific fields as stipulated by the State. The State shall give national treatment to foreign investment beyond the negative list.
前款所稱準入前國民待遇，是指在投資準入階段給予外國投資者及其投資不低于本國投資者及其投資的待遇；所稱負面清單，是指國家規定在特定領域對外商投資實施的準入特別管理措施。國家對負面清單之外的外商投資，給予國民待遇。
The negative list will be issued by or upon approval by the State Council.
負面清單由國務院發布或者批準發布。
If more preferential treatment concerning access is offered to a foreign investor under any international treaty or agreement that the People's Republic of China concludes or joins in, relevant provisions in such treaty or agreement may prevail.
中華人民共和國締結或者參加的國際條約、協定對外國投資者準入待遇有更優惠規定的，可以按照相關規定執行。
Article 5 The State shall protect foreign investors' investment, earnings and other legitimate rights and interests within the territory of China in accordance with the law.
第五條 國家依法保護外國投資者在中國境內的投資、收益和其他合法權益。
Article 6 Foreign investors and foreign-funded enterprises carrying out investment activities within the territory of China shall observe the Chinese laws and regulations, and shall not impair China's security or damage any public interest.
第六條 在中國境內進行投資活動的外國投資者、外商投資企業，應當遵守中國法律法規，不得危害中國國家安全、損害社會公共利益。
Article 7 The competent departments for commerce and investment under the State Council shall, pursuant to the division of duties, promote, protect and manage foreign investment; other relevant departments under the State Council shall take charge of the relevant work in the promotion, protection and management of foreign investment within the scope of their respective duties.
第七條 國務院商務主管部門、投資主管部門按照職責分工，開展外商投資促進、保護和管理工作；國務院其他有關部門在各自職責范圍內，負責外商投資促進、保護和管理的相關工作。
The relevant department under the local people's government at or above the county level shall carry out the work relating to promotion, protection and management of foreign investment in accordance with laws and regulations and in line with the division of duties determined by the people's government at the same level.
縣級以上地方人民政府有關部門依照法律法規和本級人民政府確定的職責分工，開展外商投資促進、保護和管理工作。
Article 8 Employees of a foreign-funded enterprise shall, pursuant to the law, establish trade union, carry out trade union activities, and safeguard their legitimate rights and interests. A foreign-funded enterprise shall provide necessary conditions for its trade union to carry out relevant activities.
第八條 外商投資企業職工依法建立工會組織，開展工會活動，維護職工的合法權益。外商投資企業應當為本企業工會提供必要的活動條件。
Chapter II Investment Promotion
第二章 投資促進
Article 9 All national policies on supporting the development of enterprises shall equally apply to foreign-funded enterprises in accordance with the law.
第九條 外商投資企業依法平等適用國家支持企業發展的各項政策。
Article 10 Comments and suggestions from foreign-funded enterprises shall be sought in a proper manner when formulating laws, regulations and rules relating to foreign investment.
第十條 制定與外商投資有關的法律、法規、規章，應當采取適當方式征求外商投資企業的意見和建議。
Normative documents and judgment documents relating to foreign investment shall be published in accordance with the law in due time.
與外商投資有關的規范性文件、裁判文書等，應當依法及時公布。
Article 11 The State shall establish and perfect the service system for foreign investment, and provide foreign investors and foreign-funded enterprises with consultation and services in respect of laws and regulations, policies and measures, investment project information and other aspects.
第十一條 國家建立健全外商投資服務體系，為外國投資者和外商投資企業提供法律法規、政策措施、投資項目信息等方面的咨詢和服務。
Article 12 The State shall establish multilateral and bilateral cooperation mechanisms for the promotion of investment with other countries, regions and international organizations, so as to enhance international exchanges and cooperation in terms of investment.
第十二條 國家與其他國家和地區、國際組織建立多邊、雙邊投資促進合作機制，加強投資領域的國際交流與合作。
Article 13 The State may, as needed, establish special economic area or carry out pilot polices and measures on foreign investment in specific areas, so as to promote foreign investment and expanding opening-up.
第十三條 國家根據需要，設立特殊經濟區域，或者在部分地區實行外商投資試驗性政策措施，促進外商投資，擴大對外開放。
Article 14 The State may, according to the requirements of national economy and social development, encourage and guide foreign investors to invest in specific industries, fields and areas. Foreign investors and foreign-funded enterprises may enjoy preferential treatments in accordance with laws, administrative regulations or provisions of the State Council.
第十四條 國家根據國民經濟和社會發展需要，鼓勵和引導外國投資者在特定行業、領域、地區投資。外國投資者、外商投資企業可以依照法律、行政法規或者國務院的規定享受優惠待遇。
Article 15 The State shall guarantee that foreign-funded enterprises can equally participate in setting standards in accordance with the law, and enhance information disclosure and social supervision on standard setting.
第十五條 國家保障外商投資企業依法平等參與標準制定工作，強化標準制定的信息公開和社會監督。
The compulsory standards formulated by the State shall equally apply to foreign-funded enterprises.
國家制定的強制性標準平等適用于外商投資企業。
Article 16 The State shall guarantee that foreign-funded enterprises can participate in government procurement activities through fair competition. Products produced and services provided by foreign-funded enterprises within the territory of China shall be treated equally in a government procurement.
第十六條 國家保障外商投資企業依法通過公平競爭參與政府采購活動。政府采購依法對外商投資企業在中國境內生產的產品、提供的服務平等對待。
Article 17 Foreign-funded enterprises may conduct financing through public offering of shares, corporate bonds and other securities or by other means.
第十七條 外商投資企業可以依法通過公開發行股票、公司債券等證券和其他方式進行融資。
Article 18 Local people's governments at county level or above may, in accordance with the provisions in laws, administrative regulations or local regulations, formulate policies on promotion and facilitation of foreign investment within their respective statutory authorities.
第十八條 縣級以上地方人民政府可以根據法律、行政法規、地方性法規的規定，在法定權限內制定外商投資促進和便利化政策措施。
Article 19 People's governments at all levels and relevant departments thereunder shall, under the principle of convenience, efficiency and transparency, streamline procedures for handling affairs, raise their efficiency and optimize government services, so as to further improve the services offered for foreign investment.
第十九條 各級人民政府及其有關部門應當按照便利、高效、透明的原則，簡化辦事程序，提高辦事效率，優化政務服務，進一步提高外商投資服務水平。
Relevant competent departments shall prepare and publish guidelines for foreign investment and provide foreign investors and foreign-funded enterprises with services and convenience.
有關主管部門應當編制和公布外商投資指引，為外國投資者和外商投資企業提供服務和便利。
Chapter III Investment Protection
第三章 投資保護
Article 20 The State is not to expropriate any investment made by foreign investors.
第二十條 國家對外國投資者的投資不實行征收。
Under special circumstances, the State may expropriate or requisition an investment made by foreign investors for public interests in accordance with the law. Such expropriation or requisition shall be made pursuant to statutory procedures and fair and reasonable compensation will be given in a timely manner.
在特殊情況下，國家為了公共利益的需要，可以依照法律規定對外國投資者的投資實行征收或者征用。征收、征用應當依照法定程序進行，并及時給予公平、合理的補償。
Article 21 A foreign investor may, in accordance with the law, freely transfer inward and outward its contributions, profits, capital gains, income from asset disposal, royalties of intellectual property rights, lawfully obtained compensation or indemnity, income from liquidation and so on within the territory of China in CNY or a foreign currency.
第二十一條 外國投資者在中國境內的出資、利潤、資本收益、資產處置所得、知識產權許可使用費、依法獲得的補償或者賠償、清算所得等，可以依法以人民幣或者外匯自由匯入、匯出。
Article 22 The State shall protect the intellectual property rights of foreign investors and foreign-funded enterprises, and protect the legitimate rights and interests of holders of intellectual property rights and relevant right holders; in case of any infringement of intellectual property right, legal liability shall be investigated strictly the legal liability in accordance with the law.
第二十二條 國家保護外國投資者和外商投資企業的知識產權，保護知識產權權利人和相關權利人的合法權益；對知識產權侵權行為，嚴格依法追究法律責任。
During the process of foreign investment, the State shall encourage technology cooperation on the basis of free will and business rules. Conditions for technology cooperation shall be determined by all investment parties upon negotiation under the principle of equity. No administrative department or its staff member shall force any transfer of technology by administrative means.
國家鼓勵在外商投資過程中基于自愿原則和商業規則開展技術合作。技術合作的條件由投資各方遵循公平原則平等協商確定。行政機關及其工作人員不得利用行政手段強制轉讓技術。
Article 23 Administrative departments and their staff members shall keep confidential any trade secret of foreign investor or foreign-funded enterprise they are aware of during the performance of their duties, and shall not divulge or illegally provide to others the secret.
第二十三條 行政機關及其工作人員對于履行職責過程中知悉的外國投資者、外商投資企業的商業秘密，應當依法予以保密，不得泄露或者非法向他人提供。
Article 24 In formulating normative documents concerning foreign investment, the people's governments at all levels and their relevant departments shall comply with laws and regulations. Where relevant laws and regulations are not available, the people's governments at all levels and their relevant departments shall not impair the legitimate rights and interests of or impose any additional obligation to a foreign-funded enterprise, set any condition for market access and withdrawal, or intervene any normal production and operation activity of a foreign-funded enterprise.
第二十四條 各級人民政府及其有關部門制定涉及外商投資的規范性文件，應當符合法律法規的規定；沒有法律、行政法規依據的，不得減損外商投資企業的合法權益或者增加其義務，不得設置市場準入和退出條件，不得干預外商投資企業的正常生產經營活動。
Article 25 Local people's governments at all levels and their relevant departments shall strictly keep their policy commitments made to foreign investors and foreign-funded enterprises and perform all contracts entered into in accordance with the law.
第二十五條 地方各級人民政府及其有關部門應當履行向外國投資者、外商投資企業依法作出的政策承諾以及依法訂立的各類合同。
If any policy commitment or contract needs to be changed due to national interests or public interests, the statutory authority and procedures shall be strictly followed, and the foreign investor or foreign-funded enterprise concerned shall be compensated for losses incurred thereby in accordance with the law.
因國家利益、社會公共利益需要改變政策承諾、合同約定的，應當依照法定權限和程序進行，并依法對外國投資者、外商投資企業因此受到的損失予以補償。
Article 26 The State shall establish a complaint mechanism for foreign-funded enterprises, timely solve the problems reported by foreign-funded enterprises or their investors, and coordinate and improve relevant policy measures.
第二十六條 國家建立外商投資企業投訴工作機制，及時處理外商投資企業或者其投資者反映的問題，協調完善相關政策措施。
Where a foreign-funded enterprise or its investor deems that any administrative act of an administrative department or its staff member infringes its legitimate rights and interests, it may seek coordination and resolution thereof through the complaint mechanism for foreign-funded enterprises.
外商投資企業或者其投資者認為行政機關及其工作人員的行政行為侵犯其合法權益的，可以通過外商投資企業投訴工作機制申請協調解決。
Where a foreign-funded enterprise or its investor deems that any administrative act of an administrative department or its staff member infringes its legitimate rights and interests, in addition to seeking coordination and resolution through the complaint mechanism for foreign-funded enterprises, it may apply for administrative review, or lodge an administrative litigation.
外商投資企業或者其投資者認為行政機關及其工作人員的行政行為侵犯其合法權益的，除依照前款規定通過外商投資企業投訴工作機制申請協調解決外，還可以依法申請行政復議、提起行政訴訟。
Article 27 Foreign-funded enterprises may legally establish and voluntarily join in a chamber of commerce or association, which shall carry out relevant activities in accordance with laws, regulations and the articles of association thereof and safeguard the legitimate rights and interests of its member.
第二十七條 外商投資企業可以依法成立和自愿參加商會、協會。商會、協會依照法律法規和章程的規定開展相關活動，維護會員的合法權益。
Chapter IV Investment Management
第四章 投資管理
Article 28 Foreign investors shall not invest in any field forbidden by the negative list for access of foreign investment (hereinafter referred to as the "negative list").
第二十八條 外商投資準入負面清單規定禁止投資的領域，外國投資者不得投資。
For any field restricted by the negative list, foreign investors shall conform to the investment conditions provided in the negative list.
外商投資準入負面清單規定限制投資的領域，外國投資者進行投資應當符合負面清單規定的條件。
Fields not included in the negative list shall be managed under the principle that domestic investment and foreign investment shall be treated uniformly.
外商投資準入負面清單以外的領域，按照內外資一致的原則實施管理。
Article 29 During the process of foreign investment, where verification and record-filing of a foreign investment project are required, relevant provisions of the State shall be followed.
第二十九條 外商投資需要辦理投資項目核準、備案的，按照國家有關規定執行。
Article 30 If a foreign investor invests in an industry or field where license is required in accordance with the law, relevant licensing formalities shall be handled as stipulated by law.
第三十條 外國投資者在依法需要取得許可的行業、領域進行投資的，應當依法辦理相關許可手續。
Unless otherwise provided by laws or administrative regulations, relevant competent department shall review the application for license filed by the foreign investor based on the same conditions and procedures as those for domestic investment.
有關主管部門應當按照與內資一致的條件和程序，審核外國投資者的許可申請，法律、行政法規另有規定的除外。
Article 31 The organization form, institutional framework and standard of conduct of a foreign-funded enterprise shall be subject to the provisions of the Company Law of the People's Republic of China, the Partnership Law of the People's Republic of China, and other laws.
第三十一條 外商投資企業的組織形式、組織機構及其活動準則，適用《中華人民共和國公司法》、《中華人民共和國合伙企業法》等法律的規定。
Article 32 In carrying out production and operation activities, foreign-funded enterprises shall conform to relevant provisions on labor protection and social insurance stipulated in laws and administrative regulations, handle tax, accounting, foreign exchange and other matters in accordance with laws, administrative regulations and relevant provisions of the State, and shall be subject to the supervision and inspection conducted by relevant competent departments in accordance with the law.
第三十二條 外商投資企業開展生產經營活動，應當遵守法律、行政法規有關勞動保護、社會保險的規定，依照法律、行政法規和國家有關規定辦理稅收、會計、外匯等事宜，并接受相關主管部門依法實施的監督檢查。
Article 33 Foreign investors who acquire a company within the territory of China through mergers and acquisitions or participate in the concentration of undertakings by other means shall be subject to the examination for concentration of undertakings as stipulated by the Anti-Monopoly Law of the People's Republic of China.
第三十三條 外國投資者并購中國境內企業或者以其他方式參與經營者集中的，應當依照《中華人民共和國反壟斷法》的規定接受經營者集中審查。
Article 34 The State shall establish a foreign investment information reporting system. Foreign investors or foreign-funded enterprises shall submit the investment information to competent departments for commerce through the enterprise registration system and the enterprise credit information publicity system.
第三十四條 國家建立外商投資信息報告制度。外國投資者或者外商投資企業應當通過企業登記系統以及企業信用信息公示系統向商務主管部門報送投資信息。
The contents and scope of foreign investment information to be reported shall be determined under the principle of necessity; investment information that is available through interdepartmental information sharing will not be required to be submitted again.
外商投資信息報告的內容和范圍按照確有必要的原則確定；通過部門信息共享能夠獲得的投資信息，不得再行要求報送。
Article 35 The State shall establish a safety review system for foreign investment, under which the safety review shall be conducted for any foreign investment affecting or having the possibility to affect national security.
第三十五條 國家建立外商投資安全審查制度，對影響或者可能影響國家安全的外商投資進行安全審查。
The decision made upon the safety review in accordance with the law shall be final.
依法作出的安全審查決定為最終決定。
Chapter V Legal Liability
第五章 法律責任
Article 36 Where a foreign investor invests in a field forbidden by the negative list, relevant competent department shall order the said investor to stop its investment activity, dispose of the shares and assets thereof or take any other necessary measures within a prescribed time limit, and restore the state to what it was prior to the investment; if there is any illegal gain, such gain shall be confiscated.
第三十六條 外國投資者投資外商投資準入負面清單規定禁止投資的領域的，由有關主管部門責令停止投資活動，限期處分股份、資產或者采取其他必要措施，恢復到實施投資前的狀態；有違法所得的，沒收違法所得。
Where an investment activity of a foreign investor breaches any special administrative measures for restrictive access provided in the negative list, relevant competent department shall order the investor to make corrections within a prescribed time limit, and take necessary measures to meet the requirements of the aforesaid measures; if the foreign investor fails to make corrections within the time limit, measures specified in the preceding paragraph shall be taken.
外國投資者的投資活動違反外商投資準入負面清單規定的限制性準入特別管理措施的，由有關主管部門責令限期改正，采取必要措施滿足準入特別管理措施的要求；逾期不改正的，依照前款規定處理。
Where an investment activity of a foreign investor violates any provision in the negative list, the said investor shall bear corresponding legal liability in accordance the law, in addition to being subject to measures specified in the preceding two paragraphs.
外國投資者的投資活動違反外商投資準入負面清單規定的，除依照前兩款規定處理外，還應當依法承擔相應的法律責任。
Article 37 Where any foreign investor or foreign-funded enterprise violates the provisions herein and fails to report their investment information as required by the foreign investment information reporting system, competent department for commerce shall order it to make corrections within a prescribed time limit; if such corrections are not made in time, a penalty of not less than CNY100,000 yet not more than CNY500,000 shall be imposed.
第三十七條 外國投資者、外商投資企業違反本法規定，未按照外商投資信息報告制度的要求報送投資信息的，由商務主管部門責令限期改正；逾期不改正的，處十萬元以上五十萬元以下的罰款。
Article 38 Foreign investors and foreign-funded enterprises violating any law or regulation shall be subject to investigation and measures by relevant departments in accordance with the law and shall be included in the credit information system pursuant to relevant provisions of the State.
第三十八條 對外國投資者、外商投資企業違反法律、法規的行為，由有關部門依法查處，并按照國家有關規定納入信用信息系統。
Article 39 Where a staff member of an administrative department abuses his/her functions and powers, neglects his/her duties or engages in malpractice for personal gain during the work relating to promotion, protection and management of foreign investment, or divulge or illegally provide to others any trade secret he/she is aware of during the performance of duties, a penalty will be imposed upon him/her in accordance with the law; if a crime is constituted, he/she will be held criminally liable.
第三十九條 行政機關工作人員在外商投資促進、保護和管理工作中濫用職權、玩忽職守、徇私舞弊的，或者泄露、非法向他人提供履行職責過程中知悉的商業秘密的，依法給予處分；構成犯罪的，依法追究刑事責任。
Chapter VI Supplementary Provisions
第六章 附則
Article 40 Where any country or region takes any discriminatory prohibitive or restrictive measures, or other similar measures against the People's Republic of China in terms of investment, the People's Republic of China may take corresponding measures against the said country or region in light of the actual conditions.
第四十條 任何國家或者地區在投資方面對中華人民共和國采取歧視性的禁止、限制或者其他類似措施的，中華人民共和國可以根據實際情況對該國家或者該地區采取相應的措施。
Article 41 For foreign investors who invest in such financial industries as banking, securities and insurance or manage any investment in such financial markets as securities market and foreign exchange market within the territory of China within the territory of China, where the State has any other provisions, such provisions shall prevail.
第四十一條 對外國投資者在中國境內投資銀行業、證券業、保險業等金融行業，或者在證券市場、外匯市場等金融市場進行投資的管理，國家另有規定的，依照其規定。
Article 42 The Law shall come into effect as of January 1, 2020. The Law of the People's Republic of China on Sino-Foreign Equity Joint Ventures, the Law of the People's Republic of China on Wholly Foreign-owned Enterprises and the Law of the People's Republic of China on Sino-Foreign Cooperative Joint Ventures shall be repealed simultaneously.
第四十二條 本法自2020年1月1日起施行。《中華人民共和國中外合資經營企業法》、《中華人民共和國外資企業法》、《中華人民共和國中外合作經營企業法》同時廢止。
Foreign-funded enterprises, which were established in accordance with the Law of the People's Republic of China on Sino-Foreign Equity Joint Ventures, the Law of the People's Republic of China on Wholly Foreign-owned Enterprises and the Law of the People's Republic of China on Sino-Foreign Cooperative Joint Ventures before the implementation of the Law, may retain their original organization forms and other aspects for five years upon the implementation hereof. Specific implementation measures shall be formulated by the State Council.
本法施行前依照《中華人民共和國中外合資經營企業法》、《中華人民共和國外資企業法》、《中華人民共和國中外合作經營企業法》設立的外商投資企業，在本法施行后五年內可以繼續保留原企業組織形式等。具體實施辦法由國務院規定。