Sichuan Sets Key Sectors for Foreign InvestmentSouthwest China's Sichuan Province will further open some key sectors to encourage foreign investment in a move to stimulate competition and to assist the development of west China.Sichuan Governor Zhang Zhongwei said the province will open wider to overseas investment in areas of information technology, tourism, environment protection, tourism and service in addition to agriculture development, machinery and electronics, building materials and decoration industries. Zhang said that apart from running joint ventures and solely foreign-funded enterprises, foreign businessmen can adopt new approaches for investment such as share-holding, BOT, incorporating and purchasing, franchises, and issuing bonds abroad. He said that Sichuan has formulated a series of regulations to encourage foreign enterprises to do business in the province and to protect their legal rights and interests. The province also set up service centers and a complaint center for foreign businessmen. By the end of 1999 Sichuan had 5,188 foreign-funded enterprises contracted foreign investment of US$ 13.2 billion and actual investment of US$ 6.8 billion. |
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