China Continues to Absorb Foreign Investment

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Last updated at: (Beijing Time) Friday, September 20, 2002

China Continues to Absorb Foreign Investment

China will continue to absorb foreign investment, State Councilor Wu Yi told a meeting Thursday of more than 100 executives of 60 multinational companies with interests in China.

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China will continue to absorb foreign investment, State Councilor Wu Yi told a meeting Thursday of more than 100 executives of 60 multinational companies with interests in China.

Wu said the State Council had scrapped 830 laws concerning the investment environment and revised another 325, and over 190,000 local provisions have been revised or abolished.

New regulations guiding foreign investment had been publicized notification and enquiry services concerning market opening-up had been provided, and the protection of intellectual property rights had been strengthened, she said.

China had strictly implemented the World Trade Organization undertakings, and had been rewarded with more overseas investment, which would hit a record high this year, she said.

Wu expressed her wish that multinational companies focus more on technological upgrading, take a more active part in restructuring state-owned enterprises, move regional headquarters to and set up purchase centers in China, and increase investment in western China.

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