The latest revision of the Foreign Trade Law, approved by China’s highest legislative body, will come into force on March 1, 2026, the state news agency Xinhua reported on Saturday.
The world’s second-largest economy is reviewing its trade-related legal frameworks, in part to convince members of a major trans-Pacific trading bloc created to counter China’s growing influence that the manufacturing powerhouse deserves to be a part, as Beijing seeks to reduce its dependence on the United States.
Approved in 1994 and revised three times since China joined the World Trade Organization (WTO) in 2001, the last in 2022, the Foreign Trade Law empowers authorities to counterattack trading partners that try to stop their exports and adopts mechanisms to open restricted sectors to foreign companies.
The revision also adds a provision that foreign trade should “serve national economic and social development” and help build China into a “strong trading nation,” according to Xinhua.
The review focuses on areas such as digital and green trade, along with intellectual property provisions, key improvements China needs to make to meet the standards of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
