BEIJING — China will keep improving legal and market environments for foreign investors to attract more overseas capital inflow, according to the Ministry of Commerce (MOC).

The country faces a complex situation in utilizing foreign investment as the global economy slows down, cross-border direct investment remains sluggish and competition for foreign capital intensifies, Vice-Minister of Commerce Wang Shouwen told a meeting that ended on Feb 27.

Wang said the government will legalize its foreign investment policy system, build high-quality national economic development zones, enhance regional coordination and improve services for foreign investors.

The MOC launched a campaign to facilitate overseas investment inflow last year. Foreign direct investment totaled $135 billion in 2018, up 3 percent year-on-year.

A draft of China’s foreign investment law will be submitted to the upcoming annual session of the top legislature, National People’s Congress. Once adopted, it will help China attract more foreign investment and better protect foreign investors’ legitimate rights and interests.