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[SPEAKING CHINESE]
China's annual impression of democracy, the National People's Congress, has come to an end. Often called the rubber stamp parliament, the NPC welcomes delegates from across China to come to Beijing and debate policy.
For an international audience this year's top of the agenda is a new law to help foreign investors. The new rule bans technology transfer and makes it illegal for government officials to meddle in the operations of overseas companies.
[SPEAKING CHINESE]
On the surface, it's a massive change of tack for the Chinese government, which traditionally has dangled access to its vast market as a way to get companies to share technology and know how. As well as pleasing business, the measure is aimed at President Donald Trump and his team of US negotiators. China is desperate to end the yearlong trade war with the US. And it hopes the new law will go a long way to reassuring American investors about its sincerity.
Business Chiefs used to be China's greatest allies in Washington. But their support has waned in the face of increasing competition, and the sense that they are being squeezed out of markets in China and overseas in favour of Chinese rivals, many of whom have been using their technology.
Even so, the foreign business community isn't completely happy. They worry that they could still be sabotaged by the detailed regulations. In short, the devil's in the details.
Foreigners aren't the only ones with complaints. Private Chinese companies feel that they are at a disadvantage to their state owned brothers, while state companies complain that they have to prop up local economies, even when it isn't profitable. The foreign investment law may help address some complaints, but Beijing still faces an uphill battle to keep both foreign and its domestic investors on board.
