China to encourage foreign investment in emerging industries

09:19, April 08, 2011      

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China welcomes foreign investors in its "strategic emerging" sectors, the Shanghai Securities News reported Thursday, citing a draft guidance for foreign investment released by the Legislative Affairs Office of the State Council.

According to the guidelines, China is to encourage foreign investment in emerging industries, such as lightweight and eco-friendly metals for aviation and auto industries, and batteries for electric cars, key components for new-energy cars.

China will also promote foreign investment in the service sector, including leasing and business services, according to the draft guidelines.

Notably, foreign investment in manufacturing and R&D in the country's auto industry, is not listed in the newly-released guidelines.

The draft was initiated by the National Development and Reform Commission and the Ministry of Commerce, seeking to solicit public opinion before the end of April.

The current guidelines for foreign investment in China were last revised in 2007.

Source: Xinhua
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