China to Ensure Uniform Policies on Foreign Capital

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Last updated at: (Beijing Time) Tuesday, June 04, 2002

China to Ensure Uniform Policies on Foreign Capital

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China will adopt a series of policies and measures for ensuring the uniform policies on introducing foreign capital, Wei Jianguo, vice minister of Foreign Trade and Economic Cooperation, said at a conference in Hangzhou on June 3.

In exception of carrying on rectification of the current laws and regulations on foreign investment, China will speed up improvement on relevant policies, Wei said.

Departments at all levels should henceforth keep in conformity with the state laws and rules when making rules and policies on introducing foreign capital. And all relevant rules and policies that should be publicized have to go into effect only after they are publicized so as to keep on the transparency of the policies.

China will keep the steady and continuity of policies on introducing foreign capital, optimize the foreign investment structure, and encourage foreigners to invest in high-tech industry, as well as open the service industry step by step, Wei said.

In addition, China will also introduce foreign capital into the reorganization of state-owned enterprises, encourage foreigners to invest in central and west China, encourage foreign-capital enterprises to expand their export, develop China's relevant industries and attract foreign investment by way of purchase and merger.

As reported, China has made great achievement on making use of foreign capital since China's reform and opening up. Up to the end of last April, China had approved more than 390,000 foreign enterprises from over 180 countries and regions in the world to set up branches in China, of which more than 400 are among the world top 500 transnational corporations. And the foreign capital actually used has reached US$409.36 billion in China.

By PD Online Staff Huang Ying

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