Chinese vice premier urges further opening up of China

The Chinese government should open up the country still more and use foreign investment more wisely, said Chinese Vice Premier Wu Yi.

The government should improve investment environment and carefully protect the legal interests, and especially the intellectual property rights, of domestic and overseas investors, said Wu during a visit to Guangdong Province, southern China's economic powerhouse, on Friday and Saturday.

She urged that measures be taken to attract foreign investment in advanced manufacturing and high-tech sectors, industries using new technologies and energy-saving and environmentally-friendly sectors.

More transnational companies should be encouraged to set up headquarters and research and development centers in the country, said Wu.

Visiting Guangzhou Port, Wu stressed the role of port cities as bridgeheads in international trade and the importance of building electronic information platforms for port authorities, customs officials and quarantine and inspection departments.

Official data show foreign invested enterprises accounted for 62 percent of the industrial economy of Guangdong Province from January to September, with an industrial output value of 478.6 billion yuan (59.8 billion U.S. dollars), 15.1 percent up year on year.

Source: Xinhua