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Projects Crave for Overseas Funding
Sun Zhenyu, vice-minister of foreign trade and economic co-operation, said last week that China welcomes investment by overseas companies in China.
Four major projects to be built in western China seeking foreign involvement include:
The West-to-East Natural Gas Pipeline Project, which will run from the Xinjiang Uygur Autonomous Region in Northwest China to the Shanghai Municipality in East China;
The West-to-East Electricity Transmission Project, which aims to exploit the abundant hydro-power resources in Guizhou, Yunnan and Sichuan provinces to provide power to the eastern and southern Chinese provinces;
The South-to-North Water Diversion Project;
The Qinghai-Tibet Railway line.
"China is now quickening its pace in formulating investment policies and regulations in line with international standards, and establishing a foreign trade mechanism catering to its actual conditions," said Sun.
By the end of July, China had opened 378,000 foreign-funded enterprises which involved a combined contractual value of US$700 billion, ranking the nation first among developing countries.
Source: China Daily
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