Hannah Cao, senior executive at Steptoe & Johnson in Beijing, said that the planned new law represented a landmark change. It would establish a set of uniform rules for foreign companies in the People's Republic. One approach being incorporated into the proposal is the use of a 'negative list' to replace the current system of case-by-case review by regulators when foreign investments are scrutinised. An investment which does not have issues on the negative list would be able to go through much more speedily than now as it would not need explicit, detailed clearance. 

Timescale

However, some experts in China fear that the proposal might not be enacted soon. They do not expect to see it passed at the National People's Congress in March. Source: WantChinaTimes