usa, trade war, new foreign investment law, China, Business news

China, which suffered heavy losses from a trade war, will pass a new law of foreign investment.

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China will pass a new law for foreign investment to end trade war with the US. US President Donald Trump has made several demands including intellectual property rights (IPRs) and transfer of technology to China, including legal protection. The trade war between the two largest economies of the world, America and China, is continuing since Trump imposed heavy tariffs on steel and aluminum imported from China in March last year.

After this attitude of the US, the eyebrows of China were also born and after this, he too had imposed a heavy tariff on American goods worth billions of dollars, while adopting a nastier attitude. After America, China is the world’s second-largest economy.

National People’s Congress (NPC) spokesman Zhang Yesui said on Monday that the draft of the new law of foreign investment will be handed over to NPC on March 8, which will review it. After this, it will be voting on March 15.

When asked why China is passing a new law on foreign investment, Zhang said that the interests of China and America are very closely linked and no bitterness among the relations between the two countries is going to be of no use to anyone.