Help | Sitemap | Archive | Advanced Search   
  CHINA
  BUSINESS
  OPINION
  WORLD
  SCI-EDU
  SPORTS
  LIFE
  WAP SERVICE
  FEATURES
  PHOTO GALLERY

Message Board
Feedback
Voice of Readers
 China At a Glance
 Constitution of the PRC
 CPC and State Organs
 Chinese President Jiang Zemin
 White Papers of Chinese Government
 Selected Works of Deng Xiaoping
 English Websites in China
Help
About Us
SiteMap
Employment

U.S. Mirror
Japan Mirror
Tech-Net Mirror
Edu-Net Mirror
 
Wednesday, September 19, 2001, updated at 15:59(GMT+8)
Business  

China to Remove Policy Barriers for Overseas-Funded Companies: Official

China will abolish three rigid rules, namely, "local content" "foreign exchange balance" and "external sale proportion" in relation to overseas-invested companies after its entry into the WTO, said Hu Jingyan, director of the Foreign Investment Department under the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) on September 18.

Pending its WTO accession, the Chinese government is revising relevant laws and regulations. The three major policy barriers cancelled this time were done in accordance with relevant WTO provisions. So-called "local content", "foreign exchange balance" and "external sale proportion" mean that in investing in China, foreign-funded enterprises no longer require an equivalent proportion of Chinese investment; the Chinese government will no longer impose restriction on foreign-funded enterprises' use of foreign exchange; and no regid rules will be set on the proportion of external sales of the products of foreign-funded enterprises.

He also pointed out that the Chinese government pursues an open policy in the field of service trade, which encompasses banking, insurance, telecommunications and commerce. But with regard to military enterprises and the ideological field, such as cloisonne arts and crafts and other traditional industries, the Chinese government will not open them to foreign businesses, not at present, nor in the future.



By PD Online Staff Huang Ying



In This Section
 

China will abolish three rigid rules, namely, "local content" "foreign exchange balance" and "external sale proportion" in relation to overseas-invested companies after its entry into the WTO, said Hu Jingyan, director of the Foreign Investment Department under the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) on September 18.

Advanced Search


 


 


Copyright by People's Daily Online, all rights reserved