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Guideline issued for companies to invest overseas
Updated: 2004-07-20 02:20

China's ministries of commerce and foreign affairs recently issued its first industry-based guideline for China's domestic enterprises to invest in overseas lands.

The guideline cover information on agriculture, fishery, forestry, mining, manufacture, service and other industries in 67 countries and regions.

Among the 67 countries and regions, 23 are in Asia, 15 in Europe, 13 in Africa, 11 in America and five in Oceania.

An official with the Ministry of Commerce said the selected countries are divided into five categories neighboring friendly countries, countries with compatible economic structure with China, China's major trade partners, countries with strategic partnership with China, and members of major regional economic organizations.

The official said that the guideline aims to prevent blind investment and vicious competition in the overseas market and to optimize the allocation of resources.

The ministry will renew the guideline and enrich the contents in the future, the official said.

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