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Investment List for Overseas Investors Announced
A senior Chinese foreign trade official said Tuesday in Xi'an that China welcomes overseas companies to invest in China, and the state is taking measures to encourage them.
Top of the investment list are four major projects to be built in western China. They are the West-to-East Natural Gas Pipeline Project which will run from the Xinjiang Uygur Autonomous Region in Northwest China to the Shanghai Municipality in East China, the West-to-East Electricity Transmission Project, which aims to explore abundant hydro-power resources in Guizhou, Yunnan and Sichuan provinces to provide power for eastern and southern Chinese provinces, the South-to-North Water Diversion Project, and the Qinghai-Tibet Railway line, said Sun Zhenyu, vice-minister of foreign trade and economic cooperation (MOFTEC).
In addition, foreign investors are encouraged to invest in projects in the fields of agriculture, forestry, energy and communications in western China.
Measures are being worked out to allow foreign-funded firms to annex state-owned enterprises, build projects in the form of BOT (build-operate-transfer) and issue shares abroad.
Overseas investors may import and develop advanced technology, high-tech and establish research and development centers in China.
Banking, insurance, commerce, foreign trade, travel services, accounting and law firms will be opened to overseas companies.
Small and medium-sized Chinese firms are encouraged to cooperate with foreign companies.
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