Western China Offers Huge Opportunities for Overseas Chinese Entrepreneurs

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Last updated at: (Beijing Time) Saturday, March 02, 2002

Western China Offers Huge Opportunities for Overseas Chinese Entrepreneurs

The vast western part of China offers huge opportunities for overseas Chinese entrepreneurs, said some national committee members of the Chinese People's Political Consultative Conference (CPPCC).

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The vast western part of China offers huge opportunities for overseas Chinese entrepreneurs, said some national committee members of the Chinese People's Political Consultative Conference (CPPCC).

They called on overseas Chinese entrepreneurs to go west to tap the huge market and rich resources.

"Overseas Chinese entrepreneurs have played a special role in the development of China's coastal regions in the early stage of China's reform and opening up. Now it is time for them to play thesame role in western China," said CPPCC National Committee member Yang Zhaoyuan, who is here to attend the Fifth Session of the CPPCC National Committee scheduled to open Sunday.

The huge population in western China and the low quality of itslabor force determine that western China will have to focus on labor-intensive industries and that coincides with the intention of overseas Chinese entrepreneurs to move their labor-intensive industry in the eastern part of the country to western part, he said.

Overseas Chinese entrepreneurs may better display their advantages in management expertise, finance and outlets to overseas market in western China, they said,adding that language and culture would also make their cooperation in the region easier.

"Overseas Chinese entrepreneurs are the main investors in China,with their total investment amounting to 70 percent of total direct foreign investment in the country and they will play the same crucial role in the western China development drive," said Liu Huijun.

CPPCC National Committee member Chen Hanbin is optimistic that local protectionism would be removed soon as China has joined the WTO.

With huge government investments in infrastructure, the investment environment will be improving steadily, he said.

"Overseas Chinese entrepreneurs have been widely known for their creative thought and business acumen and the opportunities are there," Chen said.

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