China to Draft Regulations on Selection of Consulting FirmsXu Guanhua, vice-minister of the Ministry of Science and Technology, said on November 8 that China is going to draft regulations on selection and engagement of consultants for State-financed projects in China.Xu said the regulations to be formulated will be designed to allow an open, just and fair engagement of consultants by government departments. Xu made the remarks at a seminar jointly held by the Ministry of Science and Technology (MST) and the Asian Development Bank ( ADP). Over 100 Chinese government officials, and representatives from domestic and overseas consulting industries gathered in Beijing Wednesday for the seminar on the development of the consulting industry in China. Xu told the seminar that China is in great need of professional consultants capable of providing detailed market analyses and industry development reports as China is undergoing a dramatic economic transition period towards a market economy. The annual business volume generated by the consulting industry in China is close to 10 billion yuan, involving several thousands companies and institutions and more than 10,000 employees. But both the vice-minister and Bruce Murray, ADB resident representative, agreed that the 20-year-old Chinese consulting industry is still in its infancy in terms of management systems and regulatory framework. |
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