Foreign firms still gung ho on China (2)

16:29, July 08, 2010      

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The report comes close on the heels of a recent European Chamber of Commerce study that expects the regulatory environment in China to worsen in the next two years.

"I don't think the arguments are representative and fair. To be frank, there were restrictions and unfavorable rules against foreign enterprises. But under the new FDI guidelines there are very few restrictions," said Wang Zhile, director of the research center on transnational corporations under the Ministry of Commerce.

"What I am really concerned about is how to implement the new guidelines," he said

In April, the State Council issued new guidelines that are considered a turning point for China's FDI policies.

"China realizes the significance of FDI in stimulating economic growth. There is no doubt that China will welcome more foreign investment," said Wang.

Part of Wang's optimism also stems from the good vibes his delegation received during their recent visit to Europe. "The interviews with most of the companies who have operations in China revealed that they are fairly satisfied with the present regulatory environment," Wang said.

A recent report in Financial Times said China is turning more hostile against international companies quoting the chief executive officer of General Electric (GE). Responding to the report, GE China said most of the stories published by the foreign media were taken out of context and, in some instances, reported in an inaccurate and misleading manner.

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