China Further Opens Construction Market

Home>>Business

Last updated at: (Beijing Time) Saturday, November 30, 2002

China Further Opens Construction Market

Overseas investors are expected to have even broader access to China's booming construction market, as new regulations on foreign investment in the sector take effect Sunday.

DISCUSSION

CHINESE

SEND TO FRIEND

Overseas investors are expected to have even broader access to China's booming construction market, as new regulations on foreign investment in the sector take effect Sunday.

According to regulations issued by the Ministry of Construction and the Ministry of Foreign Trade and Economic Cooperation (MOFTEC), overseas investors are allowed to set up Sino-foreign joint ventures, cooperative businesses and exclusively foreign-owned enterprises in China in the construction sector.

They are also allowed to invest in construction project designing.

The regulations stipulate that MOFTEC is authorized to accept and approve the applications of foreign investors. The Ministry of Construction is responsible for their management of qualification rank.

Enterprises can only design or construct projects in line with their proficiency rank, according to the newspaper.

Questions?Comments? Click here

Construction Market in China About 340 Billion US Dollars Yearly: TDC Report

Cabbage Tells Changes of Beijingers' Life ( 12 Messages)

A 'Xiaokang' Society Means Not Merely Money ( 5 Messages)

China Starts Working out Law on Citizen ID Card ( 33 Messages)

Differences between US and NATO Widen: Opinion ( 2 Messages)

Sino-US Relations Improve Despite Neo-realism ( 27 Messages)