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Xi: China strives to build open environment for foreign firms
Source: Xinhua |
September 7, 2010, Tuesday
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Online Edition
Online Edition
CHINESE Vice President Xi Jinping said today China is taking vigorous steps to create a more open and optimal investment environment for foreign-invested enterprises.
Xi made the remarks while attending the opening ceremony of the 2nd World Investment Forum (WIF) in Xiamen City in southeast China's Fujian Province.
With the theme "Investment for Sustainable Development," the three-day forum "will discuss the challenges and opportunities for global investment in a post-crisis economy," said secretary-general of the United Nations Conference on Trade and Development (UNCTAD) Supachai Panitchpakdi at the ceremony. UNCTAD is the organizer of the biennial forum
Xi said foreign investment is beneficial for both China and foreign firms. China receives funds, advanced technology, managerial expertise and talent that support China's modernization while the foreign-invested enterprises generate profits.
Obtaining "financial resources" and "intellectual resources" through foreign investment has been an important part of China's opening-up policy for the past 30 years and more, he added.
"Today in China, 22 percent of tax revenues, 28 percent of added industrial value, 55 percent of foreign trade, 50 percent of technology import and 45 million jobs come from foreign-invested enterprises," he noted.
"Many foreign-invested enterprises in China have become the growth engine and profit center for their parent companies' global business," he said.
As of July this year, some 698,000 foreign-invested enterprises with a paid-in capital of 1.05 trillion dollars had been established in China, Xi said.
Foreign direct investment (FDI) this year is set to "surpass US$100 billion," compared to US$90 billion last year, an official with China's Ministry of Commerce predicted Sunday.
During the first seven months, China's FDI increased 20.65 percent year on year to US$58.35 billion, according to the latest Ministry of Commerce statistics.
Meanwhile, some 14,459 foreign-invested companies were established in China in the first seven months, up 17.9 percent year on year.
"The latest UNCTAD survey shows China is still the most appealing destination for investment in the world," Xi said.
"As China's open economy continues to develop, foreign investment in China will surely enjoy an even broader space and generate even higher profits," he added.
The WIF is a global forum that aims to strengthen international cooperation to promote international investment and economic growth.
The first WIF was held in Accra, Ghana, in April 2008.
Xi made the remarks while attending the opening ceremony of the 2nd World Investment Forum (WIF) in Xiamen City in southeast China's Fujian Province.
With the theme "Investment for Sustainable Development," the three-day forum "will discuss the challenges and opportunities for global investment in a post-crisis economy," said secretary-general of the United Nations Conference on Trade and Development (UNCTAD) Supachai Panitchpakdi at the ceremony. UNCTAD is the organizer of the biennial forum
Xi said foreign investment is beneficial for both China and foreign firms. China receives funds, advanced technology, managerial expertise and talent that support China's modernization while the foreign-invested enterprises generate profits.
Obtaining "financial resources" and "intellectual resources" through foreign investment has been an important part of China's opening-up policy for the past 30 years and more, he added.
"Today in China, 22 percent of tax revenues, 28 percent of added industrial value, 55 percent of foreign trade, 50 percent of technology import and 45 million jobs come from foreign-invested enterprises," he noted.
"Many foreign-invested enterprises in China have become the growth engine and profit center for their parent companies' global business," he said.
As of July this year, some 698,000 foreign-invested enterprises with a paid-in capital of 1.05 trillion dollars had been established in China, Xi said.
Foreign direct investment (FDI) this year is set to "surpass US$100 billion," compared to US$90 billion last year, an official with China's Ministry of Commerce predicted Sunday.
During the first seven months, China's FDI increased 20.65 percent year on year to US$58.35 billion, according to the latest Ministry of Commerce statistics.
Meanwhile, some 14,459 foreign-invested companies were established in China in the first seven months, up 17.9 percent year on year.
"The latest UNCTAD survey shows China is still the most appealing destination for investment in the world," Xi said.
"As China's open economy continues to develop, foreign investment in China will surely enjoy an even broader space and generate even higher profits," he added.
The WIF is a global forum that aims to strengthen international cooperation to promote international investment and economic growth.
The first WIF was held in Accra, Ghana, in April 2008.
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