China strives to build more open, optimal investment environment for foreign firms: vice president

21:47, September 07, 2010      

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Chinese Vice President Xi Jinping delivers a keynote speech during the opening ceremony and world leaders investment summit of the 2nd World Investment Forum, which is sponsored by the United Nations Conference on Trade and Development (UNCTAD), in the coastal city of Xiamen, southeast China's Fujian Province, Sept. 7, 2010. (Xinhua/Lan Hongguang)

Chinese Vice President Xi Jinping said Tuesday China is taking vigorous steps to create a more open and optimal investment environment for foreign-invested enterprises.

Xi made the remarks while attending the opening ceremony of the 2nd World Investment Forum (WIF) in Xiamen City in southeast China's Fujian Province.

With the theme "Investment for Sustainable Development," the three-day forum, which was organized biennially by the United Nations Conference on Trade and Development (UNCTAD), will discuss the challenges and opportunities for global investment in a post-crisis economy.

Xi said foreign investment is beneficial for both China and foreign firms. China receives funds, advanced technology, managerial expertise and talent that support China's modernization while the foreign-invested enterprises generate profits.

Obtaining "financial resources" and "intellectual resources" through foreign investment has been an important part of China's opening-up policy for the past 30 years and more, he added.

"Today in China, 22 percent of tax revenues, 28 percent of added industrial value, 55 percent of foreign trade, 50 percent of technology import and 45 million jobs come from foreign-invested enterprises," he noted.

"Many foreign-invested enterprises in China have become the growth engine and profit center for their parent companies' global business," he said.

As of July this year, some 698,000 foreign-invested enterprises with a paid-in capital of 1.05 trillion dollars had been established in China, Xi said.

Recently though some foreign businesses have complained about the "worsening" investment environment.

Last Thursday the European Chamber of Commerce released a report airing a host of such complaints from its member companies, especially about market access and the regulatory environment.

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