Economy

Foreign investments in emerging industry urged

By Yin Mingzhe (chinadaily.com.cn)
Updated: 2011-06-07 17:19

China is adopting favorable policies to attract foreign investments in emerging industries, Economic Information Daily, a subsidiary of Xinhua News Agency, reported Wednesday.

Several ministries and commissions such as the Ministry of Science and Technology and National Development and Reform Commission (NDRC) are enacting supportive policies or laws to provide the institutional framework for foreign investments in emerging industries, the newspaper reported.

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"We are glad to see that the Chinese government is actively forwarding its strategic move to emerging industry, and we hope that Sanyo Electric Co will have the opportunity to cooperate with our Chinese counterparts," Mitsuru Honma, Sanyo's executive vice-president, said at the China-Japan Green Exposition 2011.

"The current draft of the Catalog for the Guidance of Foreign Investment in Industries includes many new items favorable to the emerging industries compared with the amended edition in 2007," a staff member with the NDRC told reporters.

Favorable national policies also are encouraging local governments to attract foreign investments in emerging industries such as clean energy, the report said.