Xinhua News Agency, Beijing, December 30th, title:
A balanced, high-level, mutually beneficial and win-win agreement-the head of the Department of Treaty and Law of the Ministry of Commerce answers reporters' questions on the completion of the China-EU investment agreement negotiations on schedule
Xinhua News Agency reporters Yu Jiaxin, Liu Hongxia, Sun Nan
The leaders of China and the EU jointly announced on December 30 that the negotiations on the China-EU investment agreement will be completed as scheduled.
The person in charge of the Department of Treaty and Law of the Ministry of Commerce responded to relevant hot spots on this day.
The scene of the press conference of the Ministry of Commerce filmed in Beijing on December 30.
Photo by Xinhua News Agency reporter Cai Yang
The agreement covers areas far beyond traditional bilateral investment agreements
What are the main content and characteristics of the negotiation results?
The person in charge of the Department of Treaty and Law of the Ministry of Commerce said that the China-EU Investment Agreement is a balanced, high-level, mutually beneficial and win-win agreement that targets high-level international economic and trade rules and focuses on institutional openness.
The balance is mainly reflected in the fact that both parties pay great attention to retaining necessary regulatory powers while making open commitments; second, both parties focus on promoting bilateral investment cooperation and emphasize that investment needs to be conducive to sustainable development.
The high level is mainly reflected in the fact that both parties are committed to promoting investment liberalization and facilitation and reached a high level of negotiation results.
The scope of the agreement goes far beyond traditional bilateral investment agreements, and the results of the negotiations cover four aspects: market access commitments, fair competition rules, sustainable development and dispute settlement.
Mutual benefit and win-win results are mainly reflected in the high-level and mutually beneficial market access commitments made by both parties, and all rules are applied in both directions, which will create a level playing field for enterprises and benefit Chinese and European enterprises and even global enterprises.
The scene of the press conference of the Ministry of Commerce filmed in Beijing on December 30.
Photo by Xinhua News Agency reporter Cai Yang
Will bring more investment opportunities and a better business environment
What benefits will the agreement bring to both companies?
The head of the Department of Treaty and Law of the Ministry of Commerce said that high-level market access commitments will bring more investment opportunities for both companies.
High-level fair competition rules will provide a better business environment for bilateral investment.
In terms of market access, the agreement adopted a model of pre-access national treatment plus a negative list.
For the first time, China has made a commitment in the form of a negative list in all industries, including service and non-service industries, to achieve full integration with the foreign investment negative list management system established by the Foreign Investment Law.
The European side also promised me a higher level of market access in the agreement.
In addition, in response to market access restrictions that do not discriminate against foreign investment but have a significant impact on the establishment and operation of enterprises, the two parties will also promise not to affect the number of enterprises, output, turnover, directors and senior management, local R&D, export performance, and export performance in most economic fields. Restrictions are imposed on the establishment of the headquarters, and foreign exchange transfers related to investment and the entry and stay of personnel are allowed.
Regarding fair competition rules, the two sides are based on creating a business environment governed by law and reached consensus on issues closely related to corporate operations such as state-owned enterprises, subsidy transparency, technology transfer, standard setting, administrative law enforcement, and financial supervision.
Promote investments that are conducive to achieving the Sustainable Development Goals
The agreement includes sustainable development issues. What is the relevant content?
The person in charge of the Department of Regulations and Law of the Ministry of Commerce said that China has always attached importance to sustainable development issues, including environmental protection and labor rights protection, and practiced new development concepts and people-centered development ideas. The fundamental purpose of development is to satisfy the people’s views on a better life. Yearning.
At the same time, we have also noticed that the inclusion of environmental protection and labor issues related to economy and trade has become an important feature of international economic and trade agreements in recent years.
Based on the above considerations, the agreement makes special provisions on environmental and labor issues related to investment. Both parties will promote investment that is conducive to the realization of sustainable development goals, handle the relationship between attracting investment and protecting the environment and labor rights, and comply with relevant international commitments. .
Strive to promote the early signing of the agreement
When will the agreement take effect?
The head of the Department of Treaty and Law of the Ministry of Commerce stated that in the next step, both parties will carry out text review and translation, and strive to promote the early signing of the agreement.
Thereafter, the agreement will enter into force after both parties complete their internal approval procedures.