A senior Chinese official has stressed the importance of the role
of foreign direct investment (FDI), emphasizing that in this
increasingly open world, FDI has become an important driving force
for economic globalization.
FDI has enhanced the optimum distribution of global resources,
expedited industrial restructuring, and promoted innovations in the
economic system and technology.
State Councilor Wu Yi made these remarks in a written speech at
Sunday's opening of the 2002 International Investment Forum, an
integral part of the 6th China International Fair for Investment
and Trade (CIFIT) which is currently underway in Xiamen, Fujian
Province, east China, from September 8-11.
It
is of great significance for this forum to make "FDI: Create
International Competitiveness" the topic for our discussion, the
official said. She believed the forum has also strengthened the
links between countries and regions.
Wu
said that FDI is crucial to the development of the economy,
exports, employment opportunities, and competitiveness in the host
countries. In addition, it generates potential opportunities for
investors to gain initiative or to get a competitive edge within
the framework of international competition, she said.
The official told the audience that the Chinese government has been
attaching great importance to international investment and
cooperation, working towards the optimization of the investment
climate for FDI. Reform and opening up are now government policies
in China, she stressed.
The Chinese government will spare no efforts to adhere to the
policies of effective and more efficient use of FDI to facilitate
the development of both FDI and the national economy, the official
said.
As
a member of the World Trade
Organization, the Chinese government will carry out its
commitments to grant greater access in relevant areas step by step
and to reduce or abolish tariffs, as appropriate, according to the
state councilor.
To
date, a great deal of work has been done to perfect the legal
system and to rectify and standardize the market order to create an
open, transparent and predictable market environment, she said.
"We guarantee the continuity and stability of the policy for FDI,
and will further optimize the investment environment, improve
efficiency and facilitate foreign investment and trade," the
official said.
In
the implementation of the Western Development Initiative, the
Chinese government is now working for the harmonious development of
the regional economy and is encouraging foreign investors to invest
in central and western regions, Wu noted.
She assured the audience that the Chinese government also attaches
equal importance to the "Draw More Foreign Investment" and "Go
Global" policies, not only in order to attract more foreign
investment for China, but also to encourage Chinese enterprises to
take an active part in international competition and
cooperation.
The International Fair for Investment and Trade has been held for
six consecutive years. "This successful fair is a window of
opportunity for foreign friends and entrepreneurs to learn about
China; at the same time, it also provides Chinese entrepreneurs
with a good opportunity to learn about foreign countries and to
participate in an expanding global market," the official said.
She expressed her hope that cooperation between China and foreign
enterprises will be strengthened, that international
competitiveness will be increased, and that a bright future will be
created through our joint efforts.
(Xinhua News
Agency Septembert 9, 2002)