Wednesday, April 26, 2000, updated at 15:32(GMT+8)
Business
West Development Bank Be Established: Minister
Minister of Land and Resources Tian Fengshan has suggested establishing a west-China branch of the China Development Bank or the National West Development Bank specializing in fund-raising work for the development of west China, so as to attract and direct different types of social funds to be invested in the exploration and development of the western region's land and resources and carry out the construction of the ecological environment, form a diversified investment mechanism, and enhance the blood-forming functions of the western region itself. Tian made the remarks during an interview with the journalists of the "China Economy Times"
Tian said that the mainstay of existing investment in west China comes from State finance. The marketization degree of land supply for newly-added construction projects is still quite low. The amount of originally allotted land entering the market is still limited. The channels for foreign investment are far from smooth, either. Furthermore, both the investigation and evaluation, as well as the rational planning and utilization of western land resources require continuous investment.
In Tian's opinion, without the involvement of brand-new investment and fund-raising bodies as the mainstays, it would be hard to fundamentally change the pattern characterized by unpaid, undated and stagnated State land in the western region for a considerably long period of time to come.
Minister of Land and Resources Tian Fengshan has suggested establishing a west-China branch of the China Development Bank or the National West Development Bank specializing in fund-raising work for the development of west China, so as to attract and direct different types of social funds to be invested in the exploration and development of the western region's land and resources and carry out the construction of the ecological environment, form a diversified investment mechanism, and enhance the blood-forming functions of the western region itself.
