Rule of law benefits foreign firms

Foreign companies operating in China will enjoy easier market access and better prospect, said Zhang Yansheng, secretary general of the academic committee at the National Development and Reform Commission.

Zhang, who represents the top economic planning body and the major power in administrative approval, said the improvements stem from decisions made at the Fourth Plenary Session of the 18th CPC Central Committee.

Zhang's announcement came in Beijing on Monday at a briefing for foreign companies about rule of law, which was the theme of this year's plenum.

If the decisions of the Fourth Plenary are carried out, access to the market for the foreign companies will be easier and the regulations concerning doing business in China will be more open and transparent, Zhang said, adding that law enforcement will be more fair and general prospects better in the future.

Advancing the rule of law will greatly improve the investment environment in China, which will benefit foreign and the State-owned enterprises, Zhang said.

Other questions concerning the goals of the plenum and the balance of fairness and efficiency, as well as land issues were raised during the briefing.

Zhang Hengshan, a professor of law at the Party School of the Central Committee of the CPC, was also present at the briefing, explaining the theme of rule of law to the representatives. The briefing was presided over by Guo Yezhou, vice-minister of the International Department of the CPC Central Committee.

This was the first time China has held such a briefing for foreign enterprises. More than 200 representatives from 150 multinational companies in China participated in the event.