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Wen vows level playing field
Source: Xinhua |
September 14, 2010, Tuesday
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Print Edition
Print Edition
FOREIGN businesses in China will be given the same treatment as local companies, Chinese Premier Wen Jiabao told the World Economic Forum yesterday.
Trying to soothe concerns of foreign investors, Wen said foreign suppliers would have a level playing field with local firms in bidding for government contracts.
"I would like to reiterate that all enterprises registered in China in accordance with law are Chinese companies," he told the opening of the World Economic Forum in the northern Chinese city of Tianjin.
"Their products are regarded as made-in-China and their inventions as created-in-China," Wen added. "China will treat foreign-invested enterprises and local companies equally and fairly in government procurement."
China has repeatedly said it will not discriminate against foreign businesses, but global executives worry that new rules meant to support innovation in China could make it harder to win contracts in the fast-growing market.
Wen said that China will improve its legal framework further to create a better environment for foreign businesses.
"China gives high priority to intellectual property protection and has already made this a national strategy. We are ready to conduct exchanges and dialogue with other countries in this field," the premier said.
Klaus Schwab, chairman of the World Economic Forum, hailed the "active and responsible" role China has played in coping with the international financial crisis.
Schwab said China has been a major driving force for world economic growth, and expressed confidence in the economic development of the country and the world at large.
The three-day meeting attracted some 1,500 high-profile officials, scholars and business leaders from nearly 90 countries and regions.
China is now one of the world's largest foreign investment destinations. More than 470 of the top 500 global companies have established a presence in China. By July this year, China had received US$1.05 trillion of foreign investment in cumulative terms, ranking first among developing countries for 18 years in a row.
In the first seven months of this year, foreign investment in China increased by 20.7 percent over the same period of last year, Wen said.
Wen told the forum, also known as the Summer Davos, that China has successfully kept fiscal and financial risks under control while implementing a pro-active fiscal policy and a moderately easy monetary policy. In the past two years, China's budget deficit and government debt have been kept below 3 percent and around 20 percent of the gross domestic product respectively.
Wen said the country has formulated measures to strengthen the regulation of the financing platforms of local governments and implementation is well underway.
He said the results of the country's stimulus package are good overall, but some negative impacts are unavoidable.
China has done a good job in balancing the need of promoting positive effects with that of reducing negative ones, he said.
Trying to soothe concerns of foreign investors, Wen said foreign suppliers would have a level playing field with local firms in bidding for government contracts.
"I would like to reiterate that all enterprises registered in China in accordance with law are Chinese companies," he told the opening of the World Economic Forum in the northern Chinese city of Tianjin.
"Their products are regarded as made-in-China and their inventions as created-in-China," Wen added. "China will treat foreign-invested enterprises and local companies equally and fairly in government procurement."
China has repeatedly said it will not discriminate against foreign businesses, but global executives worry that new rules meant to support innovation in China could make it harder to win contracts in the fast-growing market.
Wen said that China will improve its legal framework further to create a better environment for foreign businesses.
"China gives high priority to intellectual property protection and has already made this a national strategy. We are ready to conduct exchanges and dialogue with other countries in this field," the premier said.
Klaus Schwab, chairman of the World Economic Forum, hailed the "active and responsible" role China has played in coping with the international financial crisis.
Schwab said China has been a major driving force for world economic growth, and expressed confidence in the economic development of the country and the world at large.
The three-day meeting attracted some 1,500 high-profile officials, scholars and business leaders from nearly 90 countries and regions.
China is now one of the world's largest foreign investment destinations. More than 470 of the top 500 global companies have established a presence in China. By July this year, China had received US$1.05 trillion of foreign investment in cumulative terms, ranking first among developing countries for 18 years in a row.
In the first seven months of this year, foreign investment in China increased by 20.7 percent over the same period of last year, Wen said.
Wen told the forum, also known as the Summer Davos, that China has successfully kept fiscal and financial risks under control while implementing a pro-active fiscal policy and a moderately easy monetary policy. In the past two years, China's budget deficit and government debt have been kept below 3 percent and around 20 percent of the gross domestic product respectively.
Wen said the country has formulated measures to strengthen the regulation of the financing platforms of local governments and implementation is well underway.
He said the results of the country's stimulus package are good overall, but some negative impacts are unavoidable.
China has done a good job in balancing the need of promoting positive effects with that of reducing negative ones, he said.
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