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Last updated at: (Beijing Time) Sunday, March 02, 2003

Beijing to Aim for Record Foreign Investment

Beijing is aiming to attract a record amount of foreign investment this year, hoping to raise its total utilized foreign capital by 9.4 percent to 5.5 billion US dollars.


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Beijing is aiming to attract a record amount of foreign investment this year, hoping to raise its total utilized foreign capital by 9.4 percent to 5.5 billion US dollars.

Vice-Mayor of Beijing Zhang Mao said the city would establish a comprehensive service system and promotion network to boost foreign investment.

While further encouraging projects related to the 2008 Olympic Games, real estate and service industries to pull in overseas capital, the city would also highlight its modern manufacturing industry in a bid to attract more foreign investment, Zhang said.

Along with the expansion of capital amount, Beijing was trying to involve overseas investment in the merging and reorganization of state-owned enterprises as well as the purchase of state-owned stocks, Zhang noted.

He said the city also encouraged enterprises to list themselves on stock exchanges at home and abroad, which would help enlarge the financing channels and increase foreign investment.

In addition, the municipal public infrastructure would provide a new platform for foreign capital, as the city's sectors like drainage, public traffic, environmental protection and gas were launching more profitable projects attractive to overseas investors, Zhang added.


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