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A Robust Investment Destination: Foreign investors' confidence in China is on full display (5)

By Zhou Xiaoyan (Beijing Review)

09:11, September 19, 2012

MOFCOM, together with other departments, is formulating an industrial index for foreign investment in China's central and western regions.

"We plan to offer policy support and more incentives to guide FDI to these regions," said Wang.

"We are building a very large factory in Zhumadian, central China's Henan Province. In the next two years, Nestle will have two large factories in southwest China's Sichuan Province. As a matter of fact, all the new factories of Nestle will be built in central and west China," said Decorvet of Nestle. "We do it for two reasons. First, the level of purchasing power of these regions has increased a lot. That's where the customers are. Second, our factories in coastal regions are struggling to find people to work for us. That's why we move to central and west China."

At the 16th CIFIT, suggestions were also given on how to optimize the environment for foreign investors.

"If China wants to attract more foreign investment and companies, the Chinese Government should improve the transparency of its rules and regulations so that people know exactly how those rules are made and that they are consistent and predictable," Gary Faye Locke, U.S. Ambassador to China told Beijing Review. "And people can give comments and advice to those rules and regulations and impact them."

"Besides, if the country wants to move from low-cost manufacturing to higher-valued industrial activities, encourage more innovation and more R&D in China, it has to have stronger protection for intellectual property rights. If it wants to build an innovative society, it has to pay stronger attention to intellectual property rights protection," Locke said.

Recently, there has also been a lot of talk about manufacturing moving out of China and back to the United States or elsewhere.

The flow of manufacturing back to the United States is not necessarily bad for China, said Seyedin of AmCham South China. China should shift from an export-oriented economy to a higher valued-added economy, he said.

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