China to attract more foreign research centers

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Last updated at: (Beijing Time) Saturday, January 17, 2004

China to attract more foreign research centers

The Chinese government is to take measures to attract more foreign companies to set up research centers here, Vice-Minister of Commerce Wei Jianguo said here Friday.

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The Chinese government is to take measures to attract more foreign companies to set up research centers here, Vice-Minister of Commerce Wei Jianguo said here Friday.

The measures included "maintaining preferential policies, improving the investment environment, investing in modern technology, and fostering professional officials, entrepreneurs and workers."

Wei noted that China had a mid to low-level processing trade, meaning, "While materials and finished products come from and go to foreign countries, China just processes for them."

The government hoped that foreign companies would found research centers in China to enhance technological levels and added value, added Wei.

As most foreign firms in China produced informational, mechanical and electrical and high-tech products, the Ministry of Commerce would reduce customs entrance and clearance times for these products.

The government would also strive to promote the protection to intellectual property rights for both foreign and Chinese companies.

By the end of 2003, more than 400 leading international companies had opened research centers in China.

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