Translated by Kong Qingjiang, dean of the School of International Law, China University of Political Science and Law, the translation is for reference only.

《中華人民共和國外商投資法》

Foreign Investment Law of the People's Republic of China

（2019年3月15日第十三屆全國人民代表大會第二次會議通過）

(Adopted at the 2nd session of the 13th National People's Congress on March 15, 2019)

目 錄

Table of Contents

第一章 總則

Chapter I General Provisions

第二章 投資促進

Chapter II Investment Promotion

第三章 投資保護

Chapter III Investment Protection

第四章 投資管理

Chapter IV Investment Management

第五章 法律責任

Chapter V Legal Liability

第六章 附 則

Chapter VI Supplementary Provisions

第一章 總則

Chapter I General Provisions

第一條 為了進一步擴大對外開放，積極促進外商投資，保護外商投資合法權益，規范外商投資管理，推動形成全面開放新格局，促進社會主義市場經濟健康發展，根據憲法，制定本法。

Article 1 In order to further expand opening up, actively promote foreign investment, protect the legitimate rights and interests of foreign investment, standardize foreign investment management, facilitate the formation of a comprehensive and new opening-up pattern, and promote the healthy development of the socialist market economy, this Law is enacted in accordance with the Constitution.

第二條 在中華人民共和國境內（以下簡稱中國境內）的外商投資，適用本法。

Article 2 This Law applies to foreign investment in the territory of the People's Republic of China (hereinafter referred to as “within the territory of China”).

本法所稱外商投資，是指外國的自然人、企業或者其他組織（以下稱外國投資者）直接或者間接在中國境內進行的投資活動，包括下列情形：

Foreign investment mentioned in this Law refers to the investment activities of foreign natural persons, enterprises or other organizations (hereinafter referred to as foreign investors) directly or indirectly within the territory of China, including the following:

（一）外國投資者單獨或者與其他投資者共同在中國境內設立外商投資企業；

(1) Foreign investors set up foreign-invested enterprises in China alone or jointly with other investors;

（二）外國投資者取得中國境內企業的股份、股權、財產份額或者其他類似權益；

(2) Foreign investors obtain shares, equities, property shares or other similar rights and interests of enterprises within the territory of China;

（三）外國投資者單獨或者與其他投資者共同在中國境內投資新建項目；

(3) Foreign investors investing in new projects in China alone or jointly with other investors;

（四）法律、行政法規或者國務院規定的其他方式的投資。

(4) Other investment prescribed by laws, administrative regulations or specified by the State Council.

本法所稱外商投資企業，是指全部或者部分由外國投資者投資，依照中國法律在中國境內經登記注冊設立的企業。

Foreign-invested enterprises mentioned in this Law refer to enterprises that are wholly or partly invested by foreign investors and registered within the territory of China under the Chinese laws.

第三條 國家堅持對外開放的基本國策，鼓勵外國投資者依法在中國境內投資。

Article 3 The State adheres to the basic State policy of opening to the outside world and encouraging foreign investors to invest within the territory of China.

國家實行高水平投資自由化便利化政策，建立和完善外商投資促進機制，營造穩定、透明、可預期和公平競爭的市場環境。

The State maintains a policy of high-level investment liberalization and facilitation, establishes and improves a mechanism for foreign investment promotion, and creates a stable, transparent, predictable and fair market environment.

第四條 國家對外商投資實行準入前國民待遇加負面清單管理制度。

Article 4 The State maintains a system of pre-entry national treatment plus a negative list management for foreign investment.

前款所稱準入前國民待遇，是指在投資準入階段給予外國投資者及其投資不低于本國投資者及其投資的待遇；所稱負面清單，是指國家規定在特定領域對外商投資實施的準入特別管理措施。國家對負面清單之外的外商投資，給予國民待遇。

The pre-entry national treatment mentioned in the preceding paragraph refers to the treatment given to foreign investors and their investment at the stage of investment admission no less than that to domestic investors and their investments; the so-called negative list refers to the special management measures that are adopted for the admission of foreign investment in specific areas. The State gives national treatment to foreign investment outside the negative list.

負面清單由國務院發布或者批準發布。

The negative list is issued or approved by the State Council.

中華人民共和國締結或者參加的國際條約、協定對外國投資者準入待遇有更優惠規定的，可以按照相關規定執行。

Where international treaties or agreements concluded or acceded to by the People's Republic of China provide for more preferential treatments for the admission of foreign investment, the relevant provisions may be applied.

第五條 國家依法保護外國投資者在中國境內的投資、收益和其他合法權益。

Article 5 The State protects the investment, income and other legitimate rights and interests of foreign investors in China in accordance with the law.

第六條 在中國境內進行投資活動的外國投資者、外商投資企業，應當遵守中國法律法規，不得危害中國國家安全、損害社會公共利益。

Article 6 Foreign investors and foreign-invested enterprises that conduct investment activities within China shall abide by Chinese laws and regulations and shall not endanger China's national security and harm the public interest.

第七條 國務院商務主管部門、投資主管部門按照職責分工，開展外商投資促進、保護和管理工作；國務院其他有關部門在各自職責范圍內，負責外商投資促進、保護和管理的相關工作。

Article 7 The competent departments ofthe State Council responsible for commerce and investment shall, in accordance with the division of responsibilities, carry out the promotion, protection and management of foreign investment; other relevant departments of the State Council shall, within their respective responsibilities, be responsible for the affairs related to the promotion, protection and management of foreign investment.

縣級以上地方人民政府有關部門依照法律法規和本級人民政府確定的職責分工，開展外商投資促進、保護和管理工作。

The relevant departments of the local people's governments at or above the county level shall, in accordance with laws and regulations and the division of responsibilities determined by the people's government at the same level, carry out the work relating to the promotion, protection and management of foreign investment.

第八條 外商投資企業職工依法建立工會組織，開展工會活動，維護職工的合法權益。外商投資企業應當為本企業工會提供必要的活動條件。

Article 8 Employees of foreign-invested enterprises may, in accordance with law, establish trade union organizations, carry out trade union activities, and safeguard their legitimate rights and interests. Foreign-invested enterprises shall provide necessary conditions for the trade unions thereof.

第二章 投資促進

Chapter II Investment Promotion

第九條 外商投資企業依法平等適用國家支持企業發展的各項政策。

Article 9 Foreign-invested enterprises may, in accordance with the law, equally enjoy the State policies concerning the support of enterprise development.

第十條 制定與外商投資有關的法律、法規、規章，應當采取適當方式征求外商投資企業的意見和建議。

Article 10 Before the formulation of laws, regulations and rules related to foreign investment, appropriate measures shall be taken to solicit opinions and suggestions from foreign-invested enterprises.

與外商投資有關的規范性文件、裁判文書等，應當依法及時公布。

Normative and adjudicative documents related to foreign investment shall, according to law, be made public in a timely manner.

第十一條 國家建立健全外商投資服務體系，為外國投資者和外商投資企業提供法律法規、政策措施、投資項目信息等方面的咨詢和服務。

Article 11 The State establishes and improves a system serving foreign investment to provide consultation and services to foreign investors and foreign-invested enterprises on laws and regulations, policy measures, and investment project information.

第十二條 國家與其他國家和地區、國際組織建立多邊、雙邊投資促進合作機制，加強投資領域的國際交流與合作。

Article 12 The State establishes multilateral and bilateral investment promotion cooperation mechanisms with other countries and regions and international organizations, and strengthens international exchanges and cooperation in the field of investment.

第十三條 國家根據需要，設立特殊經濟區域，或者在部分地區實行外商投資試驗性政策措施，促進外商投資，擴大對外開放。

Article 13 The State may establish special economic zones where needed, or adopt experimental policies and measures for foreign investment in selected regions with a view to promoting foreign investment and expanding opening-up.

第十四條 國家根據國民經濟和社會發展需要，鼓勵和引導外國投資者在特定行業、領域、地區投資。外國投資者、外商投資企業可以依照法律、行政法規或者國務院的規定享受優惠待遇。

Article 14 The State may, in accordance with the needs of national economic and social development, encourage and guide foreign investors to invest in specific industries, sectors and regions. Foreign investors and foreign-invested enterprises may enjoy preferential treatment in accordance with laws, administrative regulations or the provisions of the State Council.

第十五條 國家保障外商投資企業依法平等參與標準制定工作，強化標準制定的信息公開和社會監督。

Article 15 The State ensures that foreign-invested enterprises have equal access to the standard-setting work according to law, and strengthens information disclosure and social supervision regarding standard-setting.

國家制定的強制性標準平等適用于外商投資企業。

The mandatory standards set forth by the State are equally applicable to foreign-invested enterprises.

第十六條 國家保障外商投資企業依法通過公平競爭參與政府采購活動。政府采購依法對外商投資企業在中國境內生產的產品、提供的服務平等對待。

Article 16 The State ensures that foreign-invested enterprises have equal access to government procurement through fair competition in accordance with the law. Products and services provided by foreign-invested enterprises within the territory of China are equally treated in government procurement in accordance with law.

第十七條 外商投資企業可以依法通過公開發行股票、公司債券等證券和其他方式進行融資。

Article 17 Foreign-invested enterprises may, in accordance with the law, finance through public offering of stocks, corporate bonds and other securities.

第十八條 縣級以上地方人民政府可以根據法律、行政法規、地方性法規的規定，在法定權限內制定外商投資促進和便利化政策措施。

Article 18 Local people's governments at or above the county level may, in accordance with the provisions of laws, administrative regulations and local regulations, formulate policies and measures for foreign investment promotion and facilitation within their statutory competence.

第十九條 各級人民政府及其有關部門應當按照便利、高效、透明的原則，簡化辦事程序，提高辦事效率，優化政務服務，進一步提高外商投資服務水平。

Article 19 The people's governments at all levels and their relevant departments shall, in accordance with the principles of facilitation, efficiency and transparency, simplify procedures, improve efficiency, optimize government services, and further improve the level of foreign investment services.

有關主管部門應當編制和公布外商投資指引，為外國投資者和外商投資企業提供服務和便利。

The relevant competent authorities shall prepare and publish foreign investment guidelines to provide services and facilities to foreign investors and foreign-invested enterprises.

第三章 投資保護

Chapter III Investment Protection

第二十條 國家對外國投資者的投資不實行征收。

Article 20 The State does not expropriate foreign investment.

在特殊情況下，國家為了公共利益的需要，可以依照法律規定對外國投資者的投資實行征收或者征用。征收、征用應當依照法定程序進行，并及時給予公平、合理的補償。

Under extraordinary circumstances, the State may expropriate and requisition the investment of foreign investors in accordance with the law and for the needs of the public interest. The expropriation and requisition shall be conducted in accordance with legal procedures and timely and reasonable compensation shall be given.

第二十一條 外國投資者在中國境內的出資、利潤、資本收益、資產處置所得、知識產權許可使用費、依法獲得的補償或者賠償、清算所得等，可以依法以人民幣或者外匯自由匯入、匯出。

Article 21 Foreign investors' capital contribution, profits, capital gains, assets disposal income, intellectual property license fees, legally obtained damages or compensation, liquidation proceeds, etc., may be freely remitted to overseas in RMB or foreign exchange according to law.

第二十二條 國家保護外國投資者和外商投資企業的知識產權，保護知識產權權利人和相關權利人的合法權益；對知識產權侵權行為，嚴格依法追究法律責任。

Article 22 The State protects the intellectual property rights of foreign investors and foreign-invested enterprises, protects the legitimate rights and interests of intellectual property rights holders and related rights holders, and holds intellectual property rights infringers legally accountable in strict accordance with the law.

國家鼓勵在外商投資過程中基于自愿原則和商業規則開展技術合作。技術合作的條件由投資各方遵循公平原則平等協商確定。行政機關及其工作人員不得利用行政手段強制轉讓技術。

The State encourages technical cooperation based on the voluntariness principle and commercial rules in the process of foreign investment. The conditions for technical cooperation are determined by equal negotiation between the parties to the investment inaccordance with the principle of fairness. Administrative agencies and their staff are prohibited to use administrative means to force any technology transfer.

第二十三條 行政機關及其工作人員對于履行職責過程中知悉的外國投資者、外商投資企業的商業秘密，應當依法予以保密，不得泄露或者非法向他人提供。

Article 23 The administrative organs and their staff shall keep confidential the business secrets known to them, of foreign investors and foreign-invested enterprises during the performance of their duties, and shall not disclose or illegally provide them to others.

第二十四條 各級人民政府及其有關部門制定涉及外商投資的規范性文件，應當符合法律法規的規定；沒有法律、行政法規依據的，不得減損外商投資企業的合法權益或者增加其義務，不得設置市場準入和退出條件，不得干預外商投資企業的正常生產經營活動。

Article 24 The people's governments at all levels and their relevant departments shall be in compliance with the provisions of laws and regulations in formulating normative documents concerning foreign investment; unless authorized by laws and administrative regulations, they shall not derogate from the legitimate rights and interests of foreign-invested enterprises or increase their obligations, set forth conditions for market access and exit, and interfere with normal production and operation of foreign-invested enterprises.

第二十五條 地方各級人民政府及其有關部門應當履行向外國投資者、外商投資企業依法作出的政策承諾以及依法訂立的各類合同。

Article 25 Local people's governments at all levels and their relevant departments shall honor their commitments on policies made available to foreign investors and foreign-invested enterprises under the law and various types of contracts concluded in accordance with the law.

因國家利益、社會公共利益需要改變政策承諾、合同約定的，應當依照法定權限和程序進行，并依法對外國投資者、外商投資企業因此受到的損失予以補償。

If policy commitments or contractual agreements need to be changed for the State interests and public interests, they shall be conducted in accordance with the statutory authority and procedures, and foreign investors and foreign-invested enterprises shall be compensated for the losses they suffered accordingly.

第二十六條 國家建立外商投資企業投訴工作機制，及時處理外商投資企業或者其投資者反映的問題，協調完善相關政策措施。

Article 26 The State establishes a complaint and settlement mechanism for foreign-invested enterprises, with a view to promptly handling problems raised by foreign-invested enterprises or their investors, and coordinating and improving relevant policies and measures.

外商投資企業或者其投資者認為行政機關及其工作人員的行政行為侵犯其合法權益的，可以通過外商投資企業投訴工作機制申請協調解決。

If a foreign-invested enterprise or its investors believe that the administrative actions of the administrative organ and its staff infringe upon their legitimate rights and interests, they may apply for a coordinated solution through the complaint and settlement mechanism for the foreign-invested enterprise.

外商投資企業或者其投資者認為行政機關及其工作人員的行政行為侵犯其合法權益的，除依照前款規定通過外商投資企業投訴工作機制申請協調解決外，還可以依法申請行政復議、提起行政訴訟。

If a foreign-invested enterprise or its investors believe that the administrative actions of the administrative organ and its staff infringe upon their legitimate rights and interests, in addition to applying for a coordinated solution through the complaint and settlement mechanism for the foreign-invested enterprise in accordance with the provisions of the preceding paragraph, they may also apply for administrative reconsideration and file an administrative lawsuit according to law.

第二十七條 外商投資企業可以依法成立和自愿參加商會、協會。商會、協會依照法律法規和章程的規定開展相關活動，維護會員的合法權益。

Article 27 Foreign-invested enterprises may establish and voluntarily participate in chambers of commerce and associations according to law. The chamber of commerce and association shall carry out relevant activities in accordance with the laws, regulations and its articles of association to safeguard the legitimate rights and interests of its members.

第四章 投資管理

Chapter IV Investment Management

第二十八條 外商投資準入負面清單規定禁止投資的領域，外國投資者不得投資。

Article 28 Foreign investors shall not invest in the areas where investment is prohibited under the negative list for the admission of foreign investment .

外商投資準入負面清單規定限制投資的領域，外國投資者進行投資應當符合負面清單規定的條件。

Foreign investors shall meet the conditions set forth in the negative list for the admission of foreign investment to invest in the areas where investment is restricted under the negative list.

外商投資準入負面清單以外的領域，按照內外資一致的原則實施管理。

Management of foreign investment in the areas beyond the negative list shall be implemented in accordance with the principle of equality between domestic and foreign investment.

第二十九條 外商投資需要辦理投資項目核準、備案的，按照國家有關規定執行。

Article 29 If foreign investment is required to go through the approval or investment project record procedure, it shall be implemented in accordance with relevant provisions.

第三十條 外國投資者在依法需要取得許可的行業、領域進行投資的，應當依法辦理相關許可手續。

Article 30 If a foreign investor invests in an industry or sector where legal permission is required for investment, it shall go through relevant licensing procedures in accordance with the law.

有關主管部門應當按照與內資一致的條件和程序，審核外國投資者的許可申請，法律、行政法規另有規定的除外。

The relevant competent department shall, in accordance with the conditions and procedures equally applied to domestic investment, review the foreign investors' application for permission, except as otherwise provided by laws and administrative regulations.

第三十一條 外商投資企業的組織形式、組織機構及其活動準則，適用《中華人民共和國公司法》、《中華人民共和國合伙企業法》等法律的規定。

Article 31 Forms of organization, organization structures and activities of foreign-invested enterprises shall be governed by the provisions of the Company Law and the Law of the Partnership Enterprise of the People's Republic of China.

第三十二條 外商投資企業開展生產經營活動，應當遵守法律、行政法規有關勞動保護、社會保險的規定，依照法律、行政法規和國家有關規定辦理稅收、會計、外匯等事宜，并接受相關主管部門依法實施的監督檢查。

Article 32 Foreign-invested enterprises that engage in production and business activities shall abide by the provisions of laws and administrative regulations concerning labor protection and social insurance, and handle matters such as taxation, accounting, foreign exchange, etc. in accordance with laws, administrative regulations and relevant provisions, and accept relevant supervision and inspection carried out by the relevant departments in accordance with the law.

第三十三條 外國投資者并購中國境內企業或者以其他方式參與經營者集中的，應當依照《中華人民共和國反壟斷法》的規定接受經營者集中審查。

Article 33 If a foreign investor acquires a Chinese domestic enterprise or participates in the concentration of business operators in other ways, it shall go through the examination on the concentration of business operators in accordance with of the Anti-Monopoly Law of the People's Republic of China.

第三十四條 國家建立外商投資信息報告制度。外國投資者或者外商投資企業應當通過企業登記系統以及企業信用信息公示系統向商務主管部門報送投資信息。

Article 34 The State establishes a system for foreign investment information reporting. Foreign investors or foreign-invested enterprises shall submit investment information to the competent commerce departments through the enterprise registration system and the enterprise credit information publicity system.

外商投資信息報告的內容和范圍按照確有必要的原則確定；通過部門信息共享能夠獲得的投資信息，不得再行要求報送。

The content and scope of the foreign investment information report shall be determined in accordance with the principle of necessity; the investment information that can be obtained through the inter-department information sharing system shall not be required to be submitted again.

第三十五條 國家建立外商投資安全審查制度，對影響或者可能影響國家安全的外商投資進行安全審查。

Article 35 The State establishes a system of security review for foreign investment to review the foreign investment that affects or may affect national security.

依法作出的安全審查決定為最終決定。

The security review decision made in accordance with the law is final.

第五章 法律責任

Chapter V Legal Liability

第三十六條 外國投資者投資外商投資準入負面清單規定禁止投資的領域的，由有關主管部門責令停止投資活動，限期處分股份、資產或者采取其他必要措施，恢復到實施投資前的狀態；有違法所得的，沒收違法所得。

Article 36 Where a foreign investor invests in the areas, which are specified by the negative list for the admission of foreign-investment as prohibited areas, the relevant competent department shall order it to stop the investment activities, and dispose of the shares, assets or take other necessary measures within a specified time limit, and restitute to the status before the investment was made; If there is illegal income, it shall be confiscated.

外國投資者的投資活動違反外商投資準入負面清單規定的限制性準入特別管理措施的，由有關主管部門責令限期改正，采取必要措施滿足準入特別管理措施的要求；逾期不改正的，依照前款規定處理。

Where the investment activities of a foreign investor violates the special management measures for the admission of foreign-investment regarding restricted areas in the negative list, the relevant competent department shall order the correction within a specified time limit and take necessary measures to meet the conditions set forth by the special management measures for the admission of foreign-investment; if no corrections have been made within the time limit, the provisions of the preceding paragraph shall be applied.

外國投資者的投資活動違反外商投資準入負面清單規定的，除依照前兩款規定處理外，還應當依法承擔相應的法律責任。

Where the investment activities of a foreign investor violates the special management measures for the admission of foreign-investment in the negative list, in addition to the provisions of the preceding two paragraphs, it shall also bear corresponding legal liabilities under the law.

第三十七條 外國投資者、外商投資企業違反本法規定，未按照外商投資信息報告制度的要求報送投資信息的，由商務主管部門責令限期改正；逾期不改正的，處十萬元以上五十萬元以下的罰款。

Article 37 If a foreign investor or a foreign-invested enterprise violates the provisions of this Law and fails to submit investment information in accordance with the requirements of the foreign investment information reporting system, the competent commerce department shall order it to make corrections within a specified time limit; if no corrections have been made within the time limit, a fine of more than 100,000 yuan and less than 500,000 yuan shall be imposed.

第三十八條 對外國投資者、外商投資企業違反法律、法規的行為，由有關部門依法查處，并按照國家有關規定納入信用信息系統。

Article 38 Any violation of laws or regulations by foreign investors or foreign-invested enterprises shall be investigated and dealt with by relevant departments in accordance with the law and recorded into the credit information publicity system in accordance with relevant provisions.

第三十九條 行政機關工作人員在外商投資促進、保護和管理工作中濫用職權、玩忽職守、徇私舞弊的，或者泄露、非法向他人提供履行職責過程中知悉的商業秘密的，依法給予處分；構成犯罪的，依法追究刑事責任。

Article 39 If a staff of an administrative organ abuses his power, neglects his duties or engages in malpractices in the promotion, protection and management of foreign investment, or leaks or illegally provides others with trade secrets that he or she knows in the course of performing his duties, he shall be punished according to law; if he commits a crime, he shall be held criminally responsible.

第六章 附 則

Chapter VI Supplementary Provisions

第四十條 任何國家或者地區在投資方面對中華人民共和國采取歧視性的禁止、限制或者其他類似措施的，中華人民共和國可以根據實際情況對該國家或者該地區采取相應的措施。

Article 40 If any country or region adopts discriminatory prohibitions, restrictions or other similar measures on the People's Republic of China, the People's Republic of China may take corresponding measures against the country or the region according to actual conditions.

第四十一條 對外國投資者在中國境內投資銀行業、證券業、保險業等金融行業，或者在證券市場、外匯市場等金融市場進行投資的管理，國家另有規定的，依照其規定。

Article 41 If the State provides other provisions for foreign investment in the banking, securities, insurance and other financial industries, or in the securities market, foreign exchange market and other financial markets within the territory of China, such provisions shall be applicable.

第四十二條 本法自2020年1月1日起施行。《中華人民共和國中外合資經營企業法》、《中華人民共和國外資企業法》、《中華人民共和國中外合作經營企業法》同時廢止。

Article 42 This Law shall come into force on January 1, 2020. The Law of the People's Republic of China on Sino-Foreign Equity Joint Ventures, the Law of the People's Republic of China on Wholly Foreign-owned Enterprises, and the Law of the People's Republic on Sino-Foreign Contractual Joint Ventures shall be repealed simultaneously.

本法施行前依照《中華人民共和國中外合資經營企業法》、《中華人民共和國外資企業法》、《中華人民共和國中外合作經營企業法》設立的外商投資企業，在本法施行后五年內可以繼續保留原企業組織形式等。具體實施辦法由國務院規定。

Foreign-invested enterprises that have been established before the implementation of this Law in accordance with the Law of the People's Republic of China on Sino-Foreign Equity Joint Ventures, the Law of the People's Republic of China on Wholly Foreign-owned Enterprises, and the Law of the People's Republic of China on Sino-Foreign Contractual Joint Ventures may continue retaining their original forms of business organizations within five years after the implementation of this Law. The detailed implementation measures of this Law shall be prescribed by the State Council.