Further improvement enhanced for foreign investment

Official in charge of foreign capitals, Liu Yajun says the Ministry of Commerce calls for incessant reform on foreign investment mechanism, and try its best with facilitations in this field, including optimizing of the composition of foreign capitals to qualified level, and encouraging investment on high-tech products.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

He says, on one hand, a new method in checking and approving foreign loans is under examination and will be put forward later on, based on the fact that most of the procedures have been simplified or some of the rights permitted to local government, if involving with foreign loan projects in the near two year. On the other hand, it will be considered to introduce foreign loans toward western part of the country from coastal provinces in which more producers will be moved westward. In the mean time, it is urgent to broaden up the channels in western area in connection with outside world, like Eurasia Land Bridge under constructing in Xinjiang and many other outlets at <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Yunnan Province.

Speaking of investing environment, he indicates that numerous global institutions take China as the first place for transnational investment. Frankly to say, as a developing country, it existed in China still some defects in the environment to absorb foreign loans. But we have always attached great importance to perfect investment mechanism, and have actively made up all kinds of measures in solving the difficulties for better loan environment. In recent years, it has seen the foreign investors have all be sharing with most-favored-nation treatment, and protected and favored from the law and regulations in facilitating them running the business. What is more, the local governments at all level have made frequent contact and association with their foreign industries and in keeping communication with them to provide possible services. All this will be carried out onward from now on.