Xi, citing the old Chinese saying “honoring a promise

carries the weight of gold”, pledged to install a binding mechanism for international agre

ements, to make sure governments at all levels operate in well-regulated ways, and to update laws and reg

ulations to abolish unjustified practices, keeping in line with the needs of opening-up.

“It is welcome news to hear that the National People’s Congress has

already taken steps to lay the groundwork” for implementing the new Foreign Inve

stment Law, said Gupta, who brought up the possibility of China establishing “an ombudsperson’s desk” in r

elated government agencies to address foreign businesses’ legal concerns.

Gupta said China’s Foreign Investment Law could be a model for others looking to liberalize their foreign investment re

gimes, as China’s BRI is already delivering capital and know-how to other developing countries.

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