Policy to benefit overseas investment

China's top economic planner and Commerce Ministry have outlined the country's amendments to overseas investment policies. The announcement was made at a news conference on Wednesday.

The National Development and Reform Commission's vice minister, Zhang Xiaoqiang, says China attracted foreign direct investment worth 1 trillion US dollars last month. Nearly 700-thousand foreign and joint ventures contributed to more than half of China's export worth, or a quarter of industrial output and tax revenue. Their investment also created some 45 million jobs.

The Chinese government's latest policy announcement aims to optimize management of inbound investment.

Zhang Xiaoqiang, Vice Minister, National Development and Reform Commission, said,"The paper released recently aims to let foreign investment help China restructure its economic growth pattern, balance its regional economic development and bolster innovation and scientific upgrades. It will also allow them to enjoy wider business opportunities and better services."

Vice Minister of Commerce, Ma Xiuhong, says the new policies will create a fairer environment for foreign investors in China. When quizzed by journalists about the country's investment environment, Ma said foreign firms have an equal footing.

Ma Xiuhong, Vice Minister of Commerce, said, "Enterprises that are legally incorporated in China are Chinese enterprises. Products made in China are Chinese products. We treat any company that is legally operating in the country the same way. For foreign investors, we will offer them wider and easier access to business in China, and make their life here more and more comfortable."

China has enjoyed a rapid rebound from the global financial crisis. As the world's second-largest destination for investment, foreign direct investment in 2009 just dipped 2.6 percent, compared to 40 percent worldwide and 57 percent in the US. In the first quarter of this year, foreign investment increased by almost 8 percent.