2002 China Investment Policy Seminar held in Hong Kong

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Last updated at: (Beijing Time) Friday, July 12, 2002

2002 China Investment Policy Seminar held in Hong Kong

2002 China Investment Policy Seminar was held here Thursday with a view to promote China's new policies on investment.

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2002 China Investment Policy Seminar was held here Thursday with a view to promote China's new policies on investment.

Sun Peng, deputy director-general of China's Ministry of Foreign Trade and Economic Cooperation said at the seminar that China would combine the introduction of foreign capital with the readjustment of the structure of service industry.

China would also encourage and guide foreign investment in modern logistics and chain operation, promote tourism and relax restrictions on foreign investment in accounting, law, administration consultation, engineering consultation and other intermediary services, Sun noted.

According to Sun, China would try to use foreign capital to develop medical treatment, education and other social undertakingsand promote the opening of finance, insurance, telecommunications and securities industry.

Meantime, he said China would further perfect the legal system for foreign capital to enter the service industry so that the industry would see an open, fair and healthy development.

Total direct foreign investment in Chinese mainland amounted to14 billion US dollars from January to April this year, a growth of29 percent over the same period last year, said Gan Zhihe, deputy secretary general of China's State Economic and Trade Commission at the seminar.

Michael Sze, executive director of Hong Kong Trade Development Council pointed out in his speech that Hong Kong's service industry occupies 86 percent of its GDP. He expressed belief that with China's accession to the World Trade Organization, Hong Kong's service sector would have a bigger role to play in providing service for enterprises in the mainland.

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