On The Improvement Of Information Reporting System For Foreign Funded Enterprise

On March 15,2019,the Second Session of the National People's Congress passed the Foreign Investment Law.Following the promulgation of the Draft Investment Law of the People's Republic of China(Draft for Opinions)by the Ministry of Commerce on January 19,2015,another great innovation has been made.Its core is to relax the opening-up policy and expand foreign investment.Meanwhile,the idea of foreign investment supervision has changed,including ex ante,in-post-event supervision,focusing on form.Transition to substantive regulation.Foreign Investment Law is the inevitable result of social development.Foreign Investment Law plays an important role and significance in foreign-funded enterprises and is also an important way of supervision in China.Article 34 of the Foreign Investment Law requires enterprises to implement the information reporting system.The competent department of the information reporting system is the commercial department.However,there are still some unsolved problems in practice.Firstly,it is necessary for information reporting system to define the difficult problems in principle.Secondly,the content and scope of information reporting system are specified.Thirdly,the problem of establishing a unified mechanism for information reporting sharing.The author also considers that the introduction of the foreign investment law in the context of the Sino-US trade war reflects the authority and timeliness of China's laws on the one hand,and on the other hand,the corresponding rules and regulations of the foreign investment law will inevitably be promulgated in the follow-up.Through the actual situation of the existing legislation,combined with the analysis results,this paper puts forward suggestions for the improvement of information reporting system of foreign investment law.The author believes that we should define the necessary principles and improve the specific content and scope ofinformation reporting system,and establish a unified sharing mechanism system to meet the actual needs,in order to promote the improvement and development of foreign investment information reporting system in China.