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| China to create more favorable investment environment |
| CCTV.COM 2003-07-16 08:07:16 |
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Chinese Vice Premier Wu Yi has met heads of foreign companies with major investments in China. The Vice Premier said that Beijing would continue to create a favorable environment for foreign investment and honor its WTO commitments. The business leaders are members of the China Association of Enterprises with Foreign Investment－－the only organization in that country that brings together foreign companies with major Chinese interests.
This is the second time in a year that Wu Yi has met business leaders of the China Association of Enterprises with Foreign Investment. This time, it was to hear their assessment of China's investment environment as well as solicit their opinions on ways to improve it.
The foreign business community remains upbeat about the country's investment environment. The recent SARS outbreak doesn't seem to have tainted their optimism.
"We are continue to be optimistic, "said Steve Schneider, chairman & CEO of General Electric （China） Co. Ltd..
However, the business representatives did name a number of areas where they find government practices to be less than perfect. According to Ernst Behrens, Chairman of the Association, granting trading rights for holding companies has been a long standing concern. Then there is the question of regulation.
Behrens said, "It's rather unnecessary to maintain complex approval process. Deregulation on the contrary would be more appreciated."
There are also concerns over ensuring local compliance with national policies, further removal of sectorial FDI restrictions as well as the protection of intellectual property rights.
The vice premier pledged that all issues raised at the meeting will be addressed in good faith.
"The issue you mentioned about the coordination of practices between central and local governments is a good one and deserves our further attention. Concerning IPR protection, I can assure you that this is our shared task. If we fail to protect the IPR of your companies, then we won't be able to protect the rights of Chinese companies either," Wu Yi said.
Wu Yi says China will continue to optimize its investment environment. Foreign investment is welcomed in various forms such as merging and BOT and in such areas as restructuring of state－owned businesses. She also encouraged foreign invested companies to establish headquarters and R&D centers in China. Also, qualified foreign companies can be recommended to be listed in China.
Representatives from nearly 80 foreign invested companies as well as heads of a number of government ministries attended Tuesday's meeting.
The investors here say that China is still one of the most attractive destinations for foreign investment.The Vice Premier is here to make the point that when Chinese officials say something , they mean it.
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Editor: Xiao Wei CCTV.com
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