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Guide aims to help firms invest abroad

CHINA has unveiled a guide to help domestic firms make foreign investments. The first, released yesterday by the Ministry of Commerce, covers 20 countries, such as Pakistan, Thailand, Malaysia and Japan.

It details those countries' investment laws and regulations and statistics among other useful information such as advice on problems firms may encounter.

The ministry said it would unveil more guides to cover up to 160 countries and regions by the end of June.

"It can be a good time now for Chinese firms to invest overseas," said Li Ruogu, president of the Export-Import Bank of China, "as banks have been instructed to support overseas mergers and acquisitions of Chinese firms."

He said Chinese firms should increase their investment in developing countries such as Mongolia and others in Africa, southeast Asia and Latin America.

Li said such investment could be beneficial for both sides.

Foreign countries could expect a boost to the economy from China's capital and local resources. Overseas investment and aid programs of Chinese firms may also boost imports from China and create more employment for Chinese labor, therefore also contributing to China's economic growth, he added.

He said such investment could supplement the country's other plans to stimulate the economy.


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