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China to Improve Environment for Overseas Investment
China will work to improve its environment for overseas investment as the country prepares to join the World Trade Organization. Minister of China's Foreign Trade and Economic Cooperation Shi Guangsheng said Friday that China's reforms and opening up will enter a new stage with the country's accession to the WTO. The trade minister promised to create better environment for overseas businesses in China.
While addressing a meeting on overseas investment, Shi Guangsheng said that after China enters the WTO, all its economic sectors will be open to overseas investment. This mutual opening-up process will be strictly operated in accordance with the law.
Shi Guangsheng said: "These moves are expected to create a better environment and more development opportunities for overseas investment in China. The future is bright."
The minister added that China will improve laws for using overseas investment on the basis of the socialist market economy and WTO trade regulations.
He continued that all government bodies will cooperate to create a unified, stable, transparent and predictable policy environment for overseas businesses. The protection of intellectual property rights will be guaranteed. The foreign trade minister also promised to prevent local protectionism, monopoly and random collection of fees.
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