CPPCC Members Urge Government to Get Ready for Big Influx of Foreign Capital

Home>>Business

Last updated at: (Beijing Time) Tuesday, March 11, 2003

CPPCC Members Urge Government to Get Ready for Big Influx of Foreign Capital

DISCUSSION

CHINESE

SEND TO FRIEND

Wang Yifu and Chen Zhengtong, both members of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), urged the government toget well prepared to let in a big influx of foreign capital predicted to come in the coming 3-5 years.

Currently, the world's three largest economies, namely, the Untied States, the European Union and Japan, have been plunged into recession, with a drastic reduction in acquisitions by multinational corporations and significant drop in the equipment investment in the world's information technology industry, they noted.

2001 marked a turning point in the changes of the flow of multinational direct investment, with many big-name giants stepping up adjustment in the distribution of their investment, moving their production and logistics activities in places that offer the best conditions in cost, resources, logistics and market access.

Wang and Chen urged the government to enhance the sense of urgency and seize the opportunity to create a better environment for international capital as, they think, the favorable situation would not last long and the economic recovery of developed nations may divert the flow of international capital.

At present, they pointed out, some Southeast Asian nations are working hard to improve their environment, but for China, much remains to be done to open the financial and services sectors.

China should create a fair, open and impartial market system and take bold steps to broaden market access for foreign investors, including non-equity investment, bond investment, stock investment and risk investment and acquisition of state-owned enterprises, they said.

Questions?Comments? Click here

How's US$52.7bn Foreign Investment Introduced Into China?

International Diplomatic Strife over Iraq Issue: Signed Article ( 3 Messages)

From Subservient Housewife to Ambitious Professional: Changing Roles of Chinese Women ( 5 Messages)

Marital Problems, Domestic Abuse Plague China's Women ( 4 Messages)

Tens of Thousands March in Hollywood Against Iraq War ( 5 Messages)

New Type of Nuclear Reactor Put into Use in Beijing ( 20 Messages)

Bombing for Fame: Suspect of Beijing University Blasts ( 2 Messages)