China had approved the establishment of 710,747 foreign-funded enterprises with an actual investment of 1.11 trillion U.S. dollars by the end of 2010, says a white paper titled "The Socialist System of Laws with Chinese Characteristics" issued on Thursday.
It fully demonstrates the constant improvement of China's legal system regarding the protection of foreign investors, says the white paper issued by the Information Office of the State Council.
To promote the reform and opening up, and expand international economic cooperation and technical exchanges, China enacted Law on Chinese-Foreign Equity Joint Ventures, Law on Foreign-funded Enterprises and Law on Chinese-Foreign Cooperative Joint Ventures, with provisions on the investment conditions, procedures, operation, supervision, administration, and the protection of legitimate rights and interests of foreign investors in China, the white paper says.
To better implement the principles of equality and mutual benefit and conforming to international prevailing norms, China has made several amendments to the above three laws, and fully guarantees the legitimate rights and interests of foreign investors in their investment and commercial activities in China, the white paper says.
According to the white paper, by the end of August 2011 China had promulgated 33 civil and commercial laws, as well as a large number of administrative and local regulations concerning commercial activities.