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New Investment Association Welcomes Foreign Firms
The new Investment Association of China (IAC) was established Saturday in Beijing through a combination of merger and reshuffling of the former Investment Association of China and the Chinese Fixed Asset Investment and Construction Institute.
But the new IAC is "not simply a combination of the two", Zhang Hanya, Secretary-General of the IAC said.
While the old IAC had only Chinese companies as members, the new IAC will expand its membership to include foreign companies doing business in China, Sino-foreign joint ventures, and investment-related agencies.
This marks the first time the doors of a Chinese investment club will be opened to foreign firms and non-government enterprises, said Zhang.
Zhang claims all members, whether foreign or domestic, will enjoy full "citizenship treatment" at the hands of the IAC.
At the same time, he added, they will have an open forum in which to exchange their views on investment issues with governmental decision-making departments at different levels and explore investment and cooperation opportunities with their State-owned counterparts.
The former Investment Association of China was set in 1995 and made up exclusively of State-owned investment companies at above-provincial and municipal levels.
About a dozen foreign organizations and companies sent representatives to the new IAC's ceremony over the weekend.
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