On The Reform Of China's Foreign Investment Access System

The foreign investment access system is the primary content and core of foreign investment policies and laws of a country.Over 40 years of reform and opening-up,China has always been exploring and adjusting the foreign investment access system based on its national conditions and economic development level to adapt to the integrated development of global economy.Under the background of international investment towards liberalization,domestic and foreign economic situation have changed.At the Third Plenary Session of the 18 th Central Committee of the Communist Party of China(CPC),the initiative to explore the management model of pre-access national treatment and negative list was proposed,which provides directions for the reform of China's foreign investment access system.In September 2013,China(Shanghai)Pilot Free Trade Zone was officially established,it has started to implement substantial reform of the foreign investment access system,including the management model of pre-access national treatment and negative list as basics and national security review and in/after-event supervision as supporting measures.At present,the reform of China's foreign investment access system has entered the deep water area.The research of it will not only contribute to adapting to the new global economic situation and connecting with the new rules of international trade,but also help to promoting the gradual enrichment and improvement of China's foreign investment legal system.This paper,on the basis of clarifying the concept,content and basic theory of foreign investment access system,starts with the reform of China's foreign investment access system,using historical analysis method to sort out the development course,emphatically analyzing current situation of the reform of China's foreign investment access system such as the national and international background,content and significance that integrate the Law of the People's Republic of China on Foreign Investment.Although the new mode of foreign investment access has been practiced in 12 pilot free trade zones and nationwide popularization for 6 years,a series of problems inevitably arise due to the short running time and the great revolution.The Foreign Investment Law,as a basic law for protecting,promoting and managing the foreign investment,is too simplistic in terms of stipulating foreign investment access clause.There are still lack of guidelines of formulating negative lists,detailed rules of implementing national security review of foreign investment and enthusiasms of all parties and efficiency in the practice of in/after-event supervision.Aiming at these problems,the author puts forward productive suggestions on formulating guidelines of negative list,clarifying the specific rules of national security review,improving the supervision mechanism and establishing the standard flexibility of national security review,building a joint supervision system and increasing the efficiency of supervision based on big data to provide useful suggestions for the further reform and improvement of China's foreign investment access system.