The commencement of China’s new Foreign Investment Law (“FIL”) on 1 January 2020, presents significant opportunities for foreign investors, including more flexibility on joint venture terms and streamlined entity establishment procedures. This alert provides an overview of the key provisions of the FIL and the long-awaited implementation regulation published on 26 December 2019, as well as the matters foreign investors should consider under the new regime. Those changes, including a new information collection regime, continue the recent trend of affording foreign investors better access to the China market while subjecting them to continued regulatory scrutiny.