BEIJING, March 25 (Xinhua) -- Foreign investors will
enjoy more opportunities in China as the country's investment environment
improves, said Chinese President Hu Jintao on Tuesday.
"I emphasize here that China will further deepen its
reform and open its door wider," said President Hu when meeting with Russian
journalists ahead of his Russian visit from March 26-28.
China put into effect a revised regulation
standardizing mergers and acquisitions of Chinese companies by foreign investors
in September, 2006, sparking off concern over the country's tightening control
over foreign investment.
"The new regulation makes merger and acquisition
operations more open and transparent," said Hu.
China, the biggest receiver of foreign investment
among all developing economies for years, has seen a sharp rise of merger and
acquisition bids by foreign companies targeting Chinese firms in recent years.
The trend has triggered off an outcry for protection
of critical Chinese firms for national economic security, hence the promulgation
of the new rules.
"With the continued growth of the Chinese economy and
improvement of China's investment environment, foreign investors would have more
opportunities for investment and development in China," said Hu.
The president noted that China has approved 590,000
foreign-invested enterprises and actually used 700 billion U.S. dollars in
foreign investment since it started the reform and opening-up drive 29 years
ago.
"China has always adhered to its pledges and has kept
opening up its market since it joined the World Trade Organization (WTO),"Hu
said.
China has already opened up every section of its
manufacturing sector. It has also opened up more than 100 categories of trade of
services, among the 160 categories listed by the WTO, he said.
"China will unswervingly implement the opening up
policy, which is a fundamental national policy," said President Hu.
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