Home | China | World | Business China Enacts New Regulation to Attract Foreign Capital WED, FEB 27, 2002     Foreigners are likely to acquire more investment opportunities in China since the central government approved on Tuesday a fresh regulation to attract foreign capital. The regulation, which will take effect on April 1, outlines how China will expand cooperation with foreign investors, according to Wednesday's China Daily. It appeals for capital particularly in agricultural technology, transportation, energy and new material industry. The service industry will gradually become another focal point of cooperation, including banking, telecommunications, securities, insurance and tourism. In the last two decades, China has mainly opened its manufacturing industry to overseas investors, and the nation will continue to encourage foreigners to invest in basic industries, infrastructure construction and environmental protection. An official with the State Development Planning Commission (SDPC), the State's highest economic planning authority, said the new foreign investment guideline was tailored to the commitments China had made before it became a World Trade Organization (WTO) member. The country also hopes that foreign investors start businesses in the western regions, where they will enjoy more favorable taxation policies for the next 10 years. In addition, the government encourages foreigners to take part in key State-owned enterprises (SOEs) reform, according to the investment guideline. Editor:Hope CCTV.com Recommend to your friend email:    China Central Television,All Rights Reserved