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NDRC to encourage enterprises in five key areas to invest abroad
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17:07, April 23, 2009

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The National Development and Reform Commission (NDRC) will encourage enterprises in five key areas to make overseas investment, said Liu Hongkuan, Deputy Director of the NDRC's Department of Foreign Capital and Overseas Investment during the Third Chinese Enterprises Outbound Investment Conference on April 22.

First, the NDRC will further enhance cooperation and exploration in areas including overseas petroleum, natural gas and important mineral resources, implement long-term trade strategies, and expand the channels and areas for cooperation in overseas resources. Through promotion of mutually beneficial cooperation in energy and resources with relevant countries, China will share the opportunities for development and complement each country with its own advantages to foster mutual development.

Second, the NDRC will promote overseas technological and intelligence cooperation, support strong enterprises to establish research and development centers in countries and regions in Europe and the Americas, where overseas scientific and technological resources are more advanced. Through promotion of technological and intelligence cooperation, the NDRC expects to help both Chinese companies and local enterprises raise their innovation capacity and technological standards.

Third, foreign investment should be made in the area of advanced manufacturing. Since China is called the manufacturing center of the world, Chinese enterprises are expected to give play to their relative advantages in terms of manufacturing, jointly establishing production bases and marketing networks with enterprises in relevant countries and regions by launching investment and cooperation abroad. This will help create international brands and boost the adjustment and upgrade of industry structure.

Fourth, external investment cooperation in infrastructure facilities should be supported. China's engineering construction enterprises have a strong competitive edge, so the NDRC encourages capable enterprises to participate in the construction of infrastructure facilities in areas including irrigation, transportation, energy and communication in relevant countries and regions, to improve the local investment environment, carry out cooperation with developing countries in public welfare undertakings such as public health and schools, to promote the good relationship between China and relevant countries and regions on the basis of controlled risks.

Fifth, China's powerful enterprises in the service industries including finance, telecommunication, traffic and transportation are relatively concentrated. Therefore, qualified enterprises are encouraged to engage in service operations such as distribution, banking, fund management and shipping, which help to enhance the quality and standards of the service industry and create more jobs in investment destinations.

By People's Daily Online

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