Investment Environment to Be Further Improved in Western China

Western Forum of China Held in Xi'an

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The investment environment of China's western region should be further improved so as to provide better support for the country's western development program, said senior officials Wednesday at the ongoing China Western Forum being held in Xi'an, capital city of Shaanxi Province.

Wang Chunzheng, deputy minister in charge of the State Development Planning Commission (SDPC), said the development of the western region demands not only satisfactory infrastructure, but also satisfactory market environment, legal framework and living conditions.

Wang said that in order to better the investment environment of the western regions, four tasks should be taken as priorities.

First, local governments should further transform their functions. Considering China's impending entry into the World Trade Organization (WTO), governments at all levels in the western region should provide quality and efficient services to enterprises and continuously simplify administrative procedures for investment projects. Professionals catering to the needs of western development should also be trained.

Second, measures should be taken to regulate the market order. The commodity market in the western region needs an orderly price mechanism. Governments at all levels should reduce fees charged on enterprises and stop regionalism, industrial monopolies and other activities that hinder the development of a market economy. Work should be done to protect intellectual property rights to safeguard the legitimate benefits of investors.

Third, relevant departments should earnestly implement all the central government's policies and regulations relating to the development of western region. Preferential treatment in terms of financing, project planning, pricing, taxation, resources allocation and human resources development should be applied. Efforts should be made to improve the openness and transparency of policies on investment and financing, and keep the continuity and stability of these policies.

Fourth, a sound legal framework should be established in the western region. The legitimate rights and benefits of investors and proprietors should be protected according to law. An arbitration mechanism needs to be further completed in order to facilitate a timely settlement of economic disputes.

Zeng Peiyan, minister in charge of the SDPC, also called for continued efforts to develop the biological environment and transport, energy, telecommunication and other infrastructure facilities, improve government services and law enforcement, and enhance personnel training for the development of western China.