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Last updated at: (Beijing Time) Sunday, June 29, 2003

SW. China Province Seeks Investment for Major Projects

Sichuan Province in southwest China made public its plan over the weekend to seek domestic and overseas investment for 150 major projects, involving 50 billion yuan (6 billion US dollars).


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Sichuan Province in southwest China made public its plan over the weekend to seek domestic and overseas investment for 150 major projects, involving 50 billion yuan (6 billion US dollars).

The projects are divided into seven categories, including 25 involving urban civil work and environmental protection, processing and manufacturing, 22 in energy and communications sectors, 20 high-tech projects, 23 service and trade projects, and10 projects within science parks and economic development zones, said Vice Governor Huang Xiaoxiang.

The province also plans to transfer some shares of two local commercial banks in Leshan and Deyang cities to domestic private investors, while exploring ways for opening the financial sector to the outside world.

For the six railway projects open to investors, the province plans to transfer the right to charge tolls as a means of cooperation with investors. Luzhou container wharf, the only one of this purpose in the province, will be built through joint investment.

The development of Sanxingdui, the ruins of an ancient civilization dating back 5,000 years ago, is also listed among theinvestment projects.


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