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Vice-Premier Wu Yi pledged Wednesday that China willfurtherimprove the investment environment to attract moreforeigninvestors to fuel the countrys brisk economicgrowth.Speaking atthe opening of the eighth China InternationalFair of Investmentand Trade, which opened Wednesday in Xiamen,Fujian Province, Wusaid the central government will intensify itsefforts to encouragedomestic companies to explore internationalmarkets.The ChineseGovernment encourages overseas companies to
participate in Chinasdrive of developing its west and Northeast,increase theirinvestment in the high-tech and research sectors,establish moreregional bases, and purchase centres and logisticscentres inChina, Wu said.Remarkable achievements have been madeover thepast 26 years in attracting foreign investments thanks toChinasefforts to improve its investment environment and open itsmarketswider to the outside world, said Wu.China hassimplifiedadministrative processes and has slashed the amount ofbureaucracyrequired to facilitate foreign investment in recentyears, a movethat greatly improved foreign investors confidence,said Wu.Thisprogress accelerated after the nation joined the WorldTradeOrganization (WTO) in late 2001, as China has fully stood byitsWTO commitments in tariff-reduction, the elimination ofnon-tariffbarriers and the opening of its service trade sector.Wupointed outthat the nation has actually gone much further than itsWTOcommitments.For example, China moved ahead of the deadlineinloosening controls over its foreign trading centers with thenewForeign Trade Law taking effect on July 1, she said.Andmoreefforts will be made to prevent the infringement ofintellectualproperty centers (IPR), said Wu. Foreign investors havecomplainedthat rampant piracy and IPR violation in China are makingitdifficult for them to do business.The Chinese Governmentattachesgreat importance to IPR protection, said Wu.ChinasSupremePeoples Court and the Supreme Peoples Procuratorate aredraftinglegal interpretations concerning criminal penalties overIPRviolations, said the vice-premier, adding these are expected tobepublished before the end of the year.Until July, a total ofmorethan 490,000 foreign-invested enterprises have been set up inChinawith actual investment of US$540 billion.Among worlds top500multinational corporations, more than 400 have invested inChina.And 30 of them have set up regional bases in thecountry.China hasalso witnessed the establishment of more than 600foreign-investedresearch and development centres, whichdemonstrates that thecountrys ability to lure quality foreignfunds has been greatlyimproved.Meanwhile, the vice-premier alsosaid it is equallyimportant for Chinese companies to go global,as economicglobalization continues to gather pace.To encouragecapableChinese market to go out is an important policy of theChineseGovernment, she said.The move is of vital significance astheChinese economy becomes increasingly integrated with theworldmarket.Backed by the central government, Chinas outwardinvestmenthas increased by leaps and bounds, Wu said.By 2003,Chinesecompanies had invested US$33.2 billion in 7,470 companies inmorethan 160 nations and regions.The money goes to a diverse rangeofbusinesses including manufacturing, agro-processing,mining,project contracting, and research and development, insteadof thetraditional sectors such as foreign trade, shippingandcatering.(China Daily)
（信息来源：MOFTEC英文版子站）
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