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China to Open Further: MOFTEC Official
China will systematically open up more industries and regions to fulfill its promised commitments for entering the World Trade Organization (WTO), a Chinese foreign trade official said at the China International Investment and Trade Fair, which opened Saturday in Xiamen.
The country will gradually further ease limitations on overseas investment in the banking, insurance, telecommunications and trade industries, and push forward the opening-up of the central and western regions, said Tang Limin, vice-director of the Foreign Investment Department of the Ministry of Foreign Trade and Economic Cooperation (MOFTEC), at the China-South Africa Bilateral Investment Symposium held at the fair.
He said that, with bolder efforts for opening up the service and trade sectors, China's overall investment environment will be greatly improved.
China's development will provide huge trade and investment opportunities for the world's industrial and commercial circles, said Tang. The Chinese government will expand the areas for overseas investment, optimize a legal framework, policy environment, managerial, law enforcement and governmental functions to appeal to overseas investors.
The official said that China will reinforce the protection of intellectual property rights, allow Sino-overseas mergers and more BOT-mode projects.
The country welcomes overseas companies to invest in infrastructure construction, mineral and tourism resources exploration, environmental protection, agricultural product processing and technical upgrading in the course of western China' s development, Tang added.
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