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China to release new version of foreign investment catalogue

By Ren Jie (chinadaily.com.cn)
Updated: 2010-09-13 15:57

Summer Davos 2010 in Tianjin Related readings:  China to continue seeing large influx of foreign investment  VP calls on Chinese firms to boost foreign investment  SPC issues rules on foreign investment disputes  Chinese foreign investment surges despite slowdown

China will release its fourth revised version of foreign investment catalogue in the near future, Caijing reported.

The new version of foreign investment catalogue would further increase the transparency of policies, simplify approval procedures and optimize investment environment, the report said.

The new version of the catalogue would encourage funds to invest in China's middle and western regions. It would also encourage funds to invest in industries such as new energy, new materials, biological medicine, advanced manufacturing, the information industry, and so on, Liu Yajun, director-general of the Ministry of Commerce's Foreign Investment Department, was quoted by Caijing as saying.

Meanwhile, it would encourage multinational corporations to set up research and development centers and to extend their industry chains in China.

Liu said China's stance of opening to foreign investment would not change. He echoed the United Nations Conference on Trade and Development (UNCTAD) that the country remains the most popular destination in the world for foreign direct investment.