Western China Looking for Increased Cooperation with Overseas

Less-developed western China is looking for increased cooperation and more capital from overseas in an effort to implement the government-initiated develop-the- west strategy, and overseas investment into the region will be paid off as it has abundant water, minerals, natural gas, and biological resources, let alone large-scale markets and one quarter of China's consumers.

Zhang Zhongwei, Sichuan provincial governor' who is here attending the ongoing 3rd Session of the Ninth National People's Congress, made the remarks during a panel discussion today.

Investment from overseas has played a significant role in helping the coastal areas develop economy. In western China, however, 10,000 overseas-funded enterprises had been approved by the first half of 1999, only half that in Shanghai, the country's largest metropolis in east China.

However, some multinational corporations have developed an interest in western China, and more than 50 of the world's top 500 transitional corporations have economic ties with Sichuan, Zhang said, adding that Motorola and some 30 other firms have made investments in the province, and some of them have opened offices.

Meanwhile, a growing number of foreign businesspeople have come on business trips to Chongqing Municipality after the central government made public its program to vigorously develop the western areas early this year, and some multinationals have set up institutions to do studies on the strategy, according to He Guoqiang, a NPC deputy and the city's Party secretary.

This year, Britain has opened a consulate in Chongqing, which draws the most of the overseas investment in west China and is preparing itself to invite foreign banks to open branches.

At present, Sichuan Province is ready to offer 250 projects for public bidding, which involve hi-tech, environmental protection, agriculture, infrastructure, state-owned enterprise retooling, upgrading and re-organization. It has also set up a local merchants' bureau, a foreign investment service center, centers for handling complaints from businesspeople from overseas and Taiwan investors, a school and a hospital for foreigners.

During the War of Resistance against Japanese Aggression over a half century ago, the country's western region was the rear area, and there are still many Taiwan compatriots living in Sichuan and Chongqing, according to a number of leading officials from western provinces and autonomous regions.

"We want very much to expand our economic and technological cooperation with Taiwan," said Zhou Yongkang, Sichuan's Party secretary.

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