皇冠体育app

皇冠体育app remains popular for overseas fund
( 2001-06-10 09:30 ) (8 )

皇冠体育app will remain one of the world's most attractive regions for overseas investment and the coming five to ten years will see further advances in reform and opening up and betterment of investment environment, said 皇冠体育app's foreign trade minister Shi Guangsheng in Yantai Saturday.

皇冠体育app has demonstrated great vitality in the past two decades of reform and opening up, Shi said while addressing the ongoing CEO forum of the Second APEC Investment Mart.

皇冠体育app ranked the world's seventh largest economic giant in year 2000 with its gross domestic product (GDP) exceeding US$1 trillion. It became the world's seventh largest trader with its trade volume hitting US$474.3 billion. Meanwhile, the country has remained the largest recipient of overseas investment among the developing nations for eight consecutive years.

In the coming five to ten years, 皇冠体育app will continue to adopt an active, rational and effective policy to attract overseas investment, optimize investment environment and absorb investment by means of purchases, merging, investment fund and securities, Shi said.

In the meantime, the country will open more sectors and more areas, including the service trade such as banking, insurance, telecommunications, trade and tourism, as well as its central and western regions, he added.

Shi predicts that 皇冠体育app's economy will grow at seven percent annually, so that by year 2005, the country's GDP is expected to reach US$12.5 trillion. "皇冠体育app's development will for sure provide immense opportunities for the business circles of all the countries in the world," he said.

Shi estimated that 皇冠体育app's import of equipment, technologies and products from 2001 to 2005 would add up to some US$1.4 trillion.

皇冠体育app, facing the forthcoming WTO entry, has straightened out its existing foreign economic laws and made necessary revisions and supplements to meet the WTO rules and the socialist market economy, Shi said.

The National People's Congress, 皇冠体育app's legislative body, and its standing committee, have passed the newly-amended laws on overseas-invested enterprises, he added.

Shi pointed out that 皇冠体育app's WTO entry will enable domestic and overseas enterprises to conduct open and fair competitions and will provide more market access opportunities for the overseas enterprises.

On the other hand, 皇冠体育app's WTO entry will further accelerate the country's opening up, he added.

Shi noted that since the second half of 2000, the world economy has experienced sluggish growth and has entered a period for significant readjustment, which may lead to less and more cautious transnational investment deals.

However, Shi said, the stable new market may be a focal point of investment. A US survey showed that FDI (foreign direct investment) confidence index towards the Chinese market is 1.69, the second highest in the world.

He stressed that 皇冠体育app's rapid economic growth and political stability have created preconditions for attracting more overseas investment to the country. Perfection of 皇冠体育app's socialist market economic system as well as laws and regulations has optimized the investment environment in 皇冠体育app.

On the other hand, Shi said, 皇冠体育app is stepping up with efforts for human resources development through the training of a large group of professionals in international economy, law and trade.

皇冠体育app will provide more preferential policies to encourage overseas entrepreneurs to invest in the high-tech sector and set up research and development centers in 皇冠体育app, Shi said.

The minister noted that the theme of the mart, "invest in Asia- Pacific, invest in the future", has profound significance, as the vitality showed in the Asia-Pacific region forecasts its great prospects for future development.