The Reconstruction Of Chinese Foreign Investment Law Under Financial Crisis

Since reform and opening to the outside world , foreign investment in promoting China's economic development has played an important role。Making up for domestic construction in China's lack of funds; promoting domestic technological progress and management level; promoting the industrial structure adjustment and upgrading; creating substantial employment opportunities。Because of the foreign investment ,National tax revenue has been increased and the development of foreign trade has been accelerated。In one word, Chinese economy's international competitiveness has been improved. But at the same time China's efforts to attract foreign capital also exist a lot of questions, In particularly, because of the initial capital required urgency, the efforts to attract foreign capital exist blindness, such as foreign investment always concentrated in labor-intensive, high energy-consuming, high pollution less investment and the efficiency of the industry . And also foreign capital in large part has come from small and medium-sized capital enterprises. This means that these foreign investors are more sensitive to incentives, once the incentives have changed, reducing profits, while capital-importing countries will have to face the risk of significant disinvestment. At the same time, because of their strong financial background, advanced technology, coupled with preferential policies for foreign investors, foreign enterprises and the domestic enterprises are unfair on the starting line, and gradually led to unfair competition in the market. And because of our country's national income is at a low level, the domestic demand-sheng, in the domestic market competition the domestic enterprises are facing a difficult。In actual operation, many domestic enterprises, particularly in processing and manufacturing, labor-intensive for the main production enterprises, many are opt to the international market as the main production-oriented enterprises. From 2008, with the financial crisis sweeping all over the world,, the world economic environment has changed。Because of the global economic downturn, the international purchasing power remained low, which impact the development of the world import and export trade seriously, especially the country who take import and export trade as the main economic pulling power. In China, because of the international consumer market shrinking, there has been substantial foreign capital withdrawal phenomenon. And the Chinese-funded enterprises, because of export-oriented marketing-oriented thinking and the mechanism of market competition constraints, are in a difficult positionOver the past 30 years, China's foreign investment legislation for improving the legal environment for foreign investment plays a vital role. In absorption and utilization foreign investment, the legal environment has become one of the most important factors. However, China's foreign investment law is in practice to develop and gradually developed a sophisticated, the promulgation of a model also makes foreign investment in systems and content have much imperfections. Therefore, the current face of financial crisis, China's foreign investment laws, should be timely and content from the legislative system to improve both pay close attention to remodeling job. Through the creation of more laws to improve the investment environment and further stabilize our country's foreign investment work at foreign-funded enterprises in our country to be strong and guide investment orientation, and to provide a foreign capital market environment for fair competition. This article first analyzes the recent situation of Chinese use of foreign capital newly Change: the case of foreign capital increase, the international competition to attract investment, transnational mergers and acquisitions exacerbate the situation, combined with the characteristics of China's economy, analysis of the financial crisis on China's economic impact, on this basis, specified in the future direction of China's utilization of foreign capital. And, after analyzing China's existing foreign investment law, pointing out the disadvantage of the Chinese foreign investment law: too many super-national treatment, legislative lack of systematic, the content absence of the foreign investment law . Finally, based on the analysis , we could know how to reconstruct the Chinese foreign investment law : the introduction of the principle of national treatment, developing a unified foreign investment law, perfecting the relevant laws and regulatory content。Through the reconstruction, Chinese could cope with the financial crisis and make a basis for the development of China's economy in the future.