China 'will encourage foreign investors'

China Information News
China 'will encourage foreign investors'
8 December 2008

China will ensure growth of foreign investors because their prosperity in the nation will add to global efforts in tackling the financial crisis, Minister of Commerce Chen Deming said in Beijing yesterday.

"Good profitability of multinational companies' units in China will help employment at their headquarters and benefit their subsidiaries across the globe," Chen said at a dinner organized by the American Chamber of Commerce China. "If China maintains sound growth and US and European companies prosper here, it's a contribution not only to China's taxes and jobs, but also to the stability of global economy."

China last month announced a 4-trillion-yuan (US$586-billion) stimulus package and lowered the benchmark lending rate by the most in 11 years after the economy expanded at the slowest pace in five years between July and September, Bloomberg News said.

It is hard to predict the duration of the crisis, Chen said. To tackle the crisis, "China will make its own contribution by improving its market and sustaining growth" so that "overseas investors have full confidence and expand."

He added: "China will improve investment environment and welcome more capital into the nation. We will enhance the current laws and regulations for greater transparency and fairness, improve efficiency in administrative procedures and protect intellectual property rights."

The stimulus package offered opportunities for foreign investors, Chen said, adding that the nation would build more sales networks and spur rural spending to boost domestic consumption.

(Shanghai Daily December 8, 2008)