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Investment Experts Optimistic About Chinese Medium and Small Cities
China's medium and small-sized cities have the potential to attract over 10 billion U.S.dollars of foreign investment annually if these cities are more familiar with international practice of inviting investment, said Farzam Kamalabadi, a U.S. investment expert Sunday.
He made the above remarks at the on-going "New Century Asia- Pacific CEO Forum" that opened Saturday in Chaohu, a city in east China's Anhui Province. He is chairman of Future Trends International Cooperation, an investment consultant organization in the United States, with branches covering over 40 countries and regions.
Farzam noted that a number of companies from the United States and Europe have already invested in about 50 medium and small- sized cities in China. "But China has over 2,800 small and medium- sized cities, and foreign companies have little understanding of them."
Latest statistics showed that nearly 90 percent of overseas investment comes from Asia countries and regions.
He have visited over 400 Chinese cities, and found that investment invitation work in some cities almost equals to " waiting business", and some staff even don't have correct understanding of situations outside.
In his eyes, cultural difference is also the invisible obstacle for the invitation work. He stresses that as China's cities make improvement in their work, they are surely to attract more foreign investment.
Changes in Investment StructureA report issued by the on-going New Century Asia-Pacific CEO Forum Sunday says that foreign investment in China has taken changes in structure.
The report points out some foreign investment has established shareholding enterprises or issued stocks.
The report notes that Chinese government has taken a series of efforts to develop the foreign investment structure, which include encouraging foreign investors participate in the reform of state- owned enterprises, regulating layout of foreign investment by implementing "Developing West" strategy, and encouraging foreign investors join in technology innovation.
It also points out that after China's entry into the World Trade Organization (WTO), multinationals wish Chinese government continue to push forward reform, establish and perfect open economic system as well as laws concerned, create favorable market environment, and ensure stable economic situation.
The report says that after China's entry into WTO, multinationals will enter into China's market with larger scale.
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