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|Thursday, June 01, 2000, updated at 17:22(GMT+8)|
Foreign Businesses Allowed to Take Part in Airport Construction in West ChinaChina has decided to invest a total of 5 billion yuan in the project to rebuild and enlarge 20 airports in western areas; in addition, it will build eight major highways in 10 years and 3,000-odd-km railways in five years in the western region.
The accelerated pace in the large-scale development of China's western region will bring about enormous commercial opportunities for foreign businessmen. In the plan for investing 5 billion yuan in the reconstruction and expansion of airports, several hundred million yuan worth of foreign capital has been arranged for this project.
Song Chaoyi, deputy head of the Infrastructure Industry Department of State Development Planning Commission, said lately that for the above-mentioned airport construction, funds will come mainly from four sources: first, State treasury bonds preliminarily set at 800 million yuan, some 1 billion will come from civil aviation departments, the rest will come from foreign capital and input from local governments of the western region.
In a bid to attract more foreign and eastern China's fund, local governments in these areas have clearly defined various investment items in accordance with their different conditions.
In addition, the investment environment has been much improved along with the abolition of some documents unfavorable to foreign investors. The abolition of 164 documents in Sichuan Province is a case in point.
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