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News Analysis: Development of China's West Attractive to World Investors
China's ambitious strategy to develop its western area has drawn world-wide interests as international investors flocked to the Western Forum of China.
More than 500 distinguished people and senior executives from 66 of the top 500 transnational corporations attended the forum that concluded in this southwestern provincial capital today, far exceeding the number of dignitaries attending the Fortune Global Forum held in Shanghai last year.
The forum was unprecedented in China for the development of western area. according to the organizers of the forum.
Held in the approach of China's accession to the World Trade Organization (WTO), the forum was featured a huge potential market with a 3-billion person population and rich natural resources of energy, minerals, land and tourism.
Officials from the Chinese Foreign Ministry said at the forum that the development of west China area has far greater significance than market opportunities.
The development of west China will contribute to the cause of wiping out poverty in the world by providing lessons and experiences for developing countries and the rest of the world.
As the Chinese government has attached top priority to improving the ecological environment in the development of the western area, the preservation and restoration of ecological systems in such crucial areas as the Tibet plateau will be of great significance for global environment.
Both Chinese and international attendants at the forum agreed that development of west China will greatly accelerate the maturing of China's market and facilitate China's opening to the outside world on an unprecedented scale.
As China gave strategic priority to narrowing the gap between the east and west regions, both economically and ideologically, local governments in the west are changing their mentality and role to become open, fair and service-like.
At the largest ever international forum on the development of the sleeping west, senior government officials, heads of multinational companies and noted persons from all over the world showed intense interests in and concern with the construction of infrastructure, development of technology and improvement of investment environment.
Local experts predict that as the development and opening of the western areas contributes more and more to the sustainable growth of China economy over the next 10-15 years, overseas investors will reap huge returns by participating in the development of the area.
The organizers of the forum said that as China is integrating in the globalization of world economies, the success of the forum has proved that the rest of the world is playing an increasingly bigger, better and more prepared role in the development of the west China area.
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