Xinhua news agency reported on March 28, 2016, that Chinese companies and experts expressed concerns over renewed efforts in Zimbabwe to enforce a controversial law that requires foreign firms to sell stakes of at least 51 percent to locals in Zimbabwe. The Zimbabwean government has asked all foreign companies in the country to comply with the law or face closure. Xinhua said there is currently no estimate of how many firms would be affected, while the state-run Global Times quoted a  staff member of the Chinese construction firm Zimbabwe Nantong International as saying "Our business will be affected by the new policy and we are considering how to comply with the government's regulation before the deadline." Experts in China said the move by the Zimbabwean government came amid mounting economic woes in the country and warned that the move could increase alarm among foreign investors in the country. Zhang Ning, a Research Fellow with the National Academy of Economic Strategy at the Chinese Academy of Social Sciences, told Global Times on March 27, 2016, that "This policy is extremely unfair to foreign investors, and will cause losses for them. It also undermines the credibility of the Zimbabwean government and raises flags among foreign investors. Due to sanctions, Western companies' investment in Zimbabwe is limited, and the country's foreign investors are mainly from China, India, and some African countries such as South Africa." Wang Wen, Executive Director of the Chongyang Institute for Financial Studies at Renmin University of China in Beijing, told Global Times that the measures taken by the Zimbabwe authorities favor its nationals, but "The policy will bring adverse effects for the nation's economic development and long-term economic interests."