On 1 January 2020, the Foreign Investment Law of the PRC came into effect and replaced the Law of the PRC on Chinese-Foreign Equity Joint Ventures, the Law of the PRC on Chinese-Foreign Contractual Joint Ventures and the Law of the PRC on Wholly Foreign Owned Enterprises. Since then, foreign invested enterprises in China are no longer divided into sino-foreign equity joint ventures, sino-foreign contractual joint ventures or wholly foreign owned enterprises