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Central China City Tries to Win More Overseas Investment
Wuhan, located on the middle reaches of Yangtze River, expects to attract more than 1.3 billion US dollars in overseas investment this year.
Wuhan Mayor Wang Shouhai disclosed that overseas investors, who are showing strong interest in this central Chinese city's advantageous geographic position and powerful industrial base, have been active in negotiating with relevant local government departments about the city over investing in projects in the city.
As one of the most important inland port cities in China, Wuhan is considered by UN Industrial Development Organization as a bridgehead to the vast western Chinese market and is heralded by an American magazine to be able to grow into one of the world's 10 mega-cities in the 21st century.
From 1996 to 2000, Wuhan had an average industrial growth of 12. 8 percent in gross domestic product (GDP) and 30 percent in high- tech industrial output value. It chalked up 120 billion yuan in GDP, and invested 200 billion yuan in fixed assets, ranking third only after Beijing and Shanghai.
The city is also placed higher up in the country because of its telecom, bio-engineering, laser, micro-electronics and new materials. The city government has set up a special office which will help to improve overseas investment work efficiency by simplifying the procedures for overseas investors to start up new businesses.
"Wuhan is striving to be one of the Chinese cities with the best environment for making investment there," said Mayor Wang, pledging that all overseas investors in Wuhan will be provided with the best services.
Up to May this year, overseas investors from 46 countries and regions had pumped 9.2 billion U.S. dollars of investments into this central Chinese city. Forty-nine of the world's top 500 companies have settled down in the city.
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