【INTRODUCTION】Since the beginning of reform and opening-up in 1978, China's economic development has made great progress by attracting foreign investment. The inflow of foreign capital has lessened capital shortage, created new jobs and promoted technological progress through knowledge and technology spillovers. However, after decades of rapid economic growth, China's investment environment has changed. To the advantage of foreign investment, barriers to market entry have gradually been relaxed. More and more areas have implemented the management model of pre-establishment national treatment and negative list. Against this, labour costs are rising, domestic capital has gradually accumulated, and super-national treatment for foreign capital is gradually being phased out. ...
