As China enters the era of the new normal economy，promoting the rule of law of business environment should become the direction led by local governments. However，the “hierarchy effect” formed by the unbalanced regional economic development determines that it will be a complicated and long process for the government to realize the transformation from the traditional economic function of investment promotion to the economic function of optimizing business environment. It is still necessary for the government to carry out regional exchanges and cooperation with the help of investment attraction，but it should be regulated. Chongqing’s basic situation determines that Chongqing is actively promoting the rule of law of government investment promotion when it optimizes the business environment through legislation. The problems exposed by the practice of investment promotion in Chongqing，such as non-standard investment promotion policy，imperfect investment promotion system，unreasonable investment promotion assessment guidance and insufficient investment promotion planning guidance，need to be solved through local legislation. In the process of local legislation，Chongqing should absorb the experience and deficiency of Yunnan province，Guizhou province and Guangxi autonomous region in formulating local laws and regulations on investment promotion. The legislative framework which is proposed on the basis of preliminary empirical research，legislative data analysis and literature study is expected to be beneficial to the local legislation related to investment promotion in Chongqing.