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No Realm Difference in China's Opening after Entry into WTO
The fields open to foreign investors after China's entry into WTO will also open to domestic enterprises, said spokesman of the State Planning Commission Zheng Xinli in an exclusive interview with China News Service held earlier.
Zheng pointed out that China's economic growth would unavoidably rely to a large extent on investment, especially a growth in state debt and the government will formulate policies to offer a better environment for medium- and small-sized enterprises in a bid to startup more social investment.
First, restrictions on social investment will be substantially eased. The government will allow social investment into fields beside those in relation to national security or those that must be controlled by the government; fields open to foreign businessmen after China's entry into WTO will also open to domestic enterprises.
Second, discriminatory rules on loans, financing and shares to market imposed on medium- and small-sized enterprises will be called off, in a move to make them share the same opportunities with the big enterprises;
Third, procedures for examining and approving investment projects by small- and medium-sized enterprises will be simplified and the government has been ready to encourage them to make investment and rescind restrictions against their startup, land use, taxation and import and export;
Fourth, to provide consultation and personnel training services for these enterprises to solve their vulnerability in information;
And lastly to establish loan guarantee systems like the assets mortgage to give an impetus for banks to provide small- and medium-sized enterprises with loans.
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