Facing WTO To Improve And Reform The Foreign Investment Law

As a developing country, to import foreign capital is very important for our current economic development. Particularly, we are at a critical moment of joining in WTO, how to seize the moment of joining in WTO and how to improve our legislation of foreign capital to create favorable circumstances of legal system for importing foreign capital has become a hotspot in the circle of jurisprudence. This essay's purpose is on the base of analyzing the regulation of WTO, to dissect the insufficiencies of our foreign investment law and to probe into the way of improving it.The legislative mode of our current foreign investment law is to use special legislation of foreign investment enterprise to constitute the basic law groups assisted by other relative laws. These laws include the constitution, special regulations of foreign investment, various local laws and appraisable international treaty.The law and regulation of WTO mainly include the Agreement on Trade-Related Investment Measures (that is Agreement on TRIMs), the General Agreement on Trade Services and some other important agreements. Among these agreements, we can see the principle of most-favored nation treatment, the principle of national treatment, the principle of encouraging fair competition, the principle of open politics and other important principles. But our Foreign Investment Law has some disparities on the national treatment, admission of foreign investment and the open politics with the regulation of WTO.To improve our foreign investment law and to make it come close to the regulation of WTO, we should start to reform the system of our foreign investment law, to standard the legislative competence, to improve the open politics of law, to abandon the out-of-date standard of legislation and to re-choose the mode of legislation. On the contents of foreign investment law, we should also establish the principle of national treatment of foreign investment, re-adjust the regulation of the admission of foreign investment and actively take advantage of the regulation on the exceptions and how to mitigate duty of WTO.Under the guidance of these principles, our foreign investment will have an immense change and will achieve a higher level.