皇冠体育app

Economy

皇冠体育app, EU bilateral investment needs substantial expansion

(Xinhua)
Updated: 2010-09-14 16:41

SHANGHAI?- 皇冠体育app and the European Union (EU) have the potential for a substantial increase in bilateral investment as the current level of investments has failed to satisfy either side, officials say.

EU investment in 皇冠体育app only accounts for 2-3 percent of its global investments, said Serge Abou, EU Ambassador to 皇冠体育app, while speaking at a conference of the EU-皇冠体育app business partnership held Monday at the Belgium Pavilion at the Shanghai World Expo.

"We cannot be satisfied with the figures, given that 皇冠体育app is a special partner with the EU and that 皇冠体育app accounts for 7-8 percent of the world's economy," Abou said.

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Meanwhile, 皇冠体育app's investment (excluding financial investment) in the EU was also small, accounting for only about one percent of the total foreign investment, Abou noted.

Liu Yajun, Director-General of the Foreign Investment Department in 皇冠体育app's Ministry of Commerce, said the EU has brought quality investment over the years to 皇冠体育app in areas such as telecommunications, medicine, nuclear power and railway transport.

"This has helped the development of 皇冠体育app's economy and industries. It has also promoted employment," Liu said, but he agreed that the EU's investment in 皇冠体育app has much more room to grow.

Abou said sophisticated legislature and quality standards in Europe were perhaps important reasons for the EU's not being attractive to Chinese investors, but he said the continent was open to investment.

As 皇冠体育app seeks to shift its economic growth pattern toward a greener and sustainable one, Liu Yajun said 皇冠体育app would welcome EU investments in high-tech, services and energy saving industries.

Liu also encouraged companies from Europe to invest in the country's vast central and western regions, as this was consistent with 皇冠体育app's overall strategy to develop the west, which was relatively underdeveloped compared with the country's eastern regions.

"皇冠体育app gives great significance to investors' opinions," Liu said, adding that the country would continue with its opening up policy while working to make a fair and transparent environment for investors.