The macro-control measure taken by the Chinese government would not exert any negative impact on foreign investment in Chinese mainland, said Yu Ping, deputy chief of China Council of the Promotion of International Trade on July 5 in Macao at a summit of global ethic Chinese business organizations.

In his speech, he said for years the fast growth of Chinese economy has delivered a broad market and long-term investment possibilities to businesses funded by ethnic Chinese. He told the audience that under a stable political and social environment, China's economy was progressing ahead steadily and presented a rosy picture.

He noted that the macro-control measures has taken effect after they were adopted by the central government half a year ago.

He explained that those measures were only targeting at overheating sectors or projects with heavy pollution, high energy consumption and repeated construction at a low level. That, he said, would bring more incentives to foreign investment projects, including those funded by ethnic Chinese, instead of effecting anything negative to them.

Statistics shows for the first five months of the year, 17,359 foreign-invested companies got approval from the government, an increase of 14.9 percent over the same period of last year. Contracted foreign capital valued more than 57 billion USD, a rise of 49.7 percent. The actual use of foreign capital reached nearly 26 billion USD, 11.34 percent higher than the same period of last year.

Yu said that China's economy has experienced remarkable development driven by the reform and opening-up policy starting from 1978. It is in a unprecedented dynamic cycle.

With the same root and culture, ethic Chinese around the world have a strong attachment to China. They are playing a very important role in the process of China's reform, opening-up and economic construction and have made great contributions, said Yu.

By People's Daily Online