Wuyi on Uutilizing Overseas Investment
BEIJING, July 9 -- China will lay stress on the
imports of advanced technology, management, professional
expertise, high-technology and on the growth of service
trade in utilizing overseas investment in the coming five
years, a senior official said here on July 6.
Chinese State Councilor Wu Yi made the remark while
meeting with some 700 government officials and entrepreneurs
from inside and outside China who had gathered here for a
meeting of the China Association of Enterprises with Foreign
Investment. The association, established in 1987, is a
nationwide organization composed of overseas-invested
companies and relevant institutions.
Wu said the way China attracts overseas investment
should be changed in the 2001-05 period from attracting
foreign capital to paying more attention to the imports of
advanced technology, modern management and high-level
professionals; from imports of assembly lines to imports of
high-technology; and from setting up joint ventures in the
industrial sector only to setting up joint ventures in the
Overseas businessmen are encouraged to invest in these
areas, she said.
This week, China held the National Conference on
Utilizing Foreign Direct Investment in order to improve the
quality and level of the utilization of foreign investment.
Wu said that China will pay special attention to
improving the "soft" investment environment, meaning
standardizing the market economy order and making government
departments more efficient.
-- source: Xinhua News Agency
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