Mixed Messages

Li Keqiang, China’s prime minister, made a big promise to the world’s leading businessmen at the World Economic Forum’s annual gathering in Davos in January 2015. It was that China would introduce a new legal regime for foreign investment that would “treat Chinese and foreign companies as equals”. The revisions, and the extent to which they fulfill Mr Li’s grand pledge, are an important indicator of how serious the government is about pursuing other initiatives to liberalize rules on foreign investment.