Abstract: In the aspect of international treaties, foreign investment can be granted in accordance with the “host country law” according to the European investment agreement, or be granted in accordance with the “negative list” according to the American investment agreement,which reflects the degree of openness of a country′s investment market.China has also begun to try to admit foreign investment in the “negative list” mode in the field of domestic law. The “negative list” system at the level of international rules can provide reference for the design and concept of the “negative list” system at the level of domestic rules.The restrictive measures stipulated in the “negative list” should have corresponding legal and regulatory basis, reform the foreign investment filing system to improve the transparency and convenience of access,refer to the “ratchet mechanism” as much as possible to enhance the stability of investment access regulations, and coordinate the relationships between domestic capital and foreign capital, domestic negative lists and international negative lists.

Key words: investment access, negative list, Ratchet Mechanism, filing system