The Research Of Foreign Investment Of Pre-establishment National Treatment

Under the background of economic globalization,investment facilitation and liberalization has become a symbol of a good foreign investment environment.The permission system for foreign investment of pre-establishment national treatment has exceptional economic openness.Since the reform and opening-up,the legislation of permission for foreign investment has always stipulated the post-establishment national treatment.All signed bilateral investment treaties did not apply pre-establishment national treatment.In 2013,China established the Shanghai pilot free trade zone with trial implementation of the pre-establishment national treatment and negative list.That means that China is trying to reform the foreign investment management system.In 2019,the law of the People's Republic of China on foreign investment promulgated,which includes the pre-establishment national treatment system,marking the first step in the reform of the foreign investment systemThe pre-establishment national treatment system replaces the government approval system with the record keeping system for areas outside the negative list,which weakens the government's right of supervision and enables foreign investment to have the same and fair treatment as domestic investment.It will be conducive to expanding opening-up and attracting foreign investment.This has impacted weak domestic industries,challenged the protection of national sovereignty and economic security,and raised higher requirements for legislation and law enforcement.Based on the comparison of versions of the negative list of Shanghai free trade zone since 2013 and the legislative experience of foreign negative list,it can be seen that China's negative list still has many deficiencies in classification standards,special management measures,predictability,legal level and other aspects.The reform of domestic foreign investment system is still in the exploration stage,and the new foreign investment legal system and related supporting systems still need to be improved.To improve the legal system of foreign investment,it is necessary to elaborate the foreign investment law,link the old law with the new law,establish a diversified supervision system and improve the national security review system.The stability,predictability,clarity and operability are significant for improving the list.While improving domestic legislation,it is also important to put the pre-establishment national treatment system into practice in bilateral and multilateral investment treaties,so as to ensure that the system takes root in China as soon as possible.