Jiang on Attracting Foreign Investment

Jiang on Attracting Foreign Investment

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Chinese President Jiang Zemin Tuesday called for making greater efforts to attract foreign investment so as to guarantee the sustainable and rapid development of the national economy.

Jiang said it is necessary to absorb more investment and improve the quality of investment.

"The world is undergoing economic restructuring, and we should seize this opportunity to attract foreign investment through diversified channels in various forms," Jiang said here while meeting with delegates to the National Conference on Utilizing Foreign Direct Investment.

He said attracting investment should be closely linked with economic restructuring.

Jiang stressed that efforts should be made to encourage foreign companies, multinationals in particular, to take part in the restructuring and reform of State-owned enterprises.

He also said it is necessary to improve the structure of foreign-invested industries and ensure investments are used for technological upgrading.

He said that China will continue to open more sectors for foreign investments and will take measures to encourage foreign businessmen to invest in the central and western parts of the country.

In addition, he said China will improve the legal system concerning foreign investment.

Jiang also said businessmen from Taiwan are welcome to invest in the mainland. "This is vital to strengthening cross-Straits exchanges and understanding," he stressed.

He said it is necessary to enhance economic and trade cooperation, and increase personnel exchanges across the Taiwan Straits, protect the legal interests of Taiwan businessmen, and push ahead with the national reunification process.

Chinese Premier Zhu Rongji, Vice-Premier Li Lanqing and other senior officials attended the meeting, which opened here Tuesday.