lThe amendment to Law of the People's Republic of China on Sino-foreign Joint equity Enterprises
This amendment to the Law of the PRC on Sino-foreign Equity Joint Ventures is enacted under the situation of China's looming access into WTO. The amendment is purported to modify the domestic law of China so as to keep it in pace with the rules and regulations of WTO and therefore prepare for China's accession in terms of legal environment.This amendment awards national treatment to equity joint ventures, cancels certain provisions which impede equity joint ventures from exercise of their independent business operation rights and improves the dispute solution channel by adding "in case of dispute both parties could submit to people's court". Besides, the removal of the provision that "the right of amendment belongs to the National People's Congress" facilitates future amendments to keep more closely in line with economic development.