GUANGZHOU, Oct. 16 (Xinhua) -- China should improve
the performance of foreign capital and introduce more advanced technology and
management expertise, said Premier Wen Jiabao during a tour of Guangzhou on
Sunday.
Accompanied by local officials, Wen visited several
joint ventures and foreign-funded companies to learn about their business
performance.
At the Sino-Japan Guangqi Toyota Engine Co. Ltd, Wen
said China must bring in the best technology through establishing joint ventures
with foreign companies. This would enable, he said, the joint venture to develop
more China-made machine parts.
At GE Plastic (China), Wen said China boasts
convenient infrastructure, a vast market and well-trained employees. He urged
foreign-funded companies to be far-sighted and conduct long-term cooperation
with China.
During the inspection, Wen said China will
continuously improve laws and regulations related to the business of foreign
companies, create a fair environment and protect the legitimate rights of all
kinds of companies. Enditem
Related:
China becomes world's
third largest FDI receipent
BEIJING, Oct. 16 (Xinhua) -- China has become the
world's third largest foreign direct investment (FDI) recipient, according to
the World Investment Report 2006.
According to the report released by the United
Nations Conference on Trade and Development (UNCTAD) on Monday, China is the
largest FDI destination of all developing countries, receiving 72.4 billion U.S.
dollars of FDI in 2005.
The report showed that the FDI into China's financial
service sector hit a record high of 12 billion U.S. dollars in 2005.
During the past few years, while receiving large
amounts of FDI, Chinese companies have been actively investing overseas,
according to the report.
Between 2002 and 2005, the overseas investment of
Chinese multinationals registered an average annual growth of 65.6 percent.
By the end of June this year, China's investment
overseas totaled 63.64 billion U.S. dollars, the report said.
Enditem
