China, Sweden to Set up Investment Promotion Mechanism

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Last updated at: (Beijing Time) Sunday, December 08, 2002

China, Sweden to Set up Investment Promotion Mechanism

China and Sweden will soon put in place a mechanism to promote bilateral investment, sources from China's State Development Planning Commission (SDPC) said Sunday.

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China and Sweden will soon put in place a mechanism to promote bilateral investment, sources from China's State Development Planning Commission (SDPC) said Sunday.

SDPC Vice-Minister Jiang Weixin and Director General Kai Hammerich of the Invest In Sweden Agency signed a memorandum here Dec. 3 on the establishment of the investment promotion mechanism,an official from the SDPC said.

According to the SDPC, the mechanism is designed to strengthen bilateral economic and technological cooperation and exchanges andto encourage Chinese enterprises to invest in Sweden.

The two sides agreed to hold consultations on policy, measures taken and major projects regarding China's overseas investment andthe attraction of foreign investment to Sweden.

China and Sweden agreed to encourage entrepreneurs from both countries to exchange information and cooperate in investment and to facilitate visits of relevant personnel.

The two sides also set information and telecommunication technology and electronics as the priority areas of their cooperation. They will add more focal areas in the future.

The Swedish government announced in April this year that it would allocate special funds to help Chinese enterprises invest inthe country.

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