China encourages foreign investment in high-tech sector
(Xinhua)
Updated: 2006-08-09 11:16
The Ministry of Commerce said on Tuesday it would like to see more foreign
capital pumped into research and development and hopes foreigners will look to
China's central and western regions for investment opportunities.
The
Chinese government welcomes foreign investment in manufacturing, agriculture and
environmental protection, which produce high, value-added products but consume
less energy, the ministry said.
Investments will be curbed in sectors
that consume excessive energy and those that cause serious pollution, according
to the ministry.
It said foreign investment will be discouraged in
industries where there is already a supply glut.
The Chinese government
encourages foreign companies to set up new regional headquarters and research
and development centers in China, the report said.
The ministry also
called for more foreign capital to go west, to allow central and northeast China
to enjoy the benefits of foreign investment. Greater market access will be made
available in these regions for foreign investors.
Foreigners have
invested more than 650 billion U.S. dollars in China since the late 1970s.
Some 470 of the world's top 500 companies from 200 countries and regions
have invested in China. More than 750 foreign-invested research and development
centers have been established in China.
A survey by the United Nations
shows China will remain the most attractive nation for multinational investment
over the next couple of years.
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