Without detailed regulations on security review in China’s Foreign Investment Law, this article suggests a promising but challenging future of security review, from the perspective of institutional design. Based on the bureaucratic hierarchy between the central government and local governments which hindered the formulation and enforcement of security review in Free Trade Zones, it is promising that the central government will retain control over formulating and enforcing security review through inter-ministerial Joint Conference. However, the uncertain roles of central ministries will cause potential challenges. Based on the logic of the latest institutional reform led by the Chinese Communist Party, this article suggests the possible position of the National Development and Reform Commission in security review, is a sole coordinator rather than a substantial leader. It also points out that the rising role of other institutions, such as the newly-established State Administration for Market Regulation, will bring challenges in the further formulation and enforcement of security review in the Foreign Investment Law ( FIL).