Member of the Political Bureau of the Central Committee of the Communist Party of China, and State Councilor Wu Yi presided over the Symposium on Multinationals' Investment in China 2003 on July 15. She pointed out that foreign-funded enterprises in China are an integration part of the Chinese economic development, and that the Chinese government will create for foreign investment in China a still safer, more consummated, and more optimized environment, while continuing its protection of the interests of investors in China in accordance with laws and regulations. Wu listened attentively to the speeches made by people in charge from investment companies set up by over 20 multinationals in China, such as Siemens, Sony, GM, and ABB. They voiced their views and proposals about such issues as the soft investment environment, reform of the examination and approval system, and IPR protection, etc. In her speech, Wu Yi extended her thanks to the confidence, support and the strong sense of social responsibility expressed by foreign-funded enterprises during the SARS period. She said, many expatriates with foreign-funded enterprises held their posts during that period. On the one hand, they worked in coordination with the Chinese Government in combating SARS at their own enterprises. And on the other, they proceeded with the normal production and operation, and played an active role in donating money and materials, making contributions to SARS prevention and control, and the economic development. The Chinese Government adhered to attaching equal importance to SARS prevention and control and economic construction, took a series of decisive measures, and brings SARS epidemic under effective control. Facts show the Chinese Government is capable of winning over any hardships and difficulties, and is capable of protecting the health and security of investors in China. China remains one of the most appealing areas to foreign investment in the world, she said.  In the first half of this year, the Chinese national economy maintained a good momentum of rapid growth. The Chinese Government is pushing forward with a string of reforms, which will further improve the socialistic market economic system and market operation mechanism, and provide reliable guarantees to the sustained, rapid and healthy development of the national economy, as well as to the better attraction of more foreign investment, she noted.  Wu Yi said, China will continue to maintain the continuity and stability of policies towards foreign investment, and in light of international practices and China's WTO commitments, further improve the legal system and policies towards foreign investment, and enlarge the sectors open to foreign investors. Continued efforts will be made to promote the opening of service trades, and priorities will be given to the construction of modern logistics system. In the meantime, intensified efforts will be made to empower foreign investment companies and foreign-invested enterprises to engage in imports and exports. Foreign investment will be encouraged, as always, to invest in matching industries, and the advantages of the industrial clusters should be brought into full play. While continuing to encourage foreign investment in manufacturing and service sectors, we should seize the opportunity to promote development. Importance should be attached to the new trend of the outsourcing of internal service in multinationals, and proactive efforts should be made to create conditions and explore new ways to enlarge sectors for foreign investment.  Wu Yi expressed that related departments of the Chinese Government have formulated relevant regulations, which permit foreign investors to make investment by merger and acquisition, BOT and entrusted investment, etc., encourage multinationals to participate in the regrouping and reform of State-owned enterprises, guide and recommend qualified foreign-invested enterprises to go public in China, allow foreign-invested enterprises to acquire through direct investment the equity stock legal entities held in a listed company, and encourage multinationals to base their regional headquarters and R&D centers in China, towards which we have formulated related policies and regulations in light of the international practices. On the basis of summarizing the experience from foreign investment in the disposal of non-performing assets, further efforts will be made to facilitate foreign investment in the reform and disposal of non-performing assets. Efforts will also be made to create conditions for foreign investment to engage in the development of the western region and the reform and restructure of the old industrial bases in Northeast China. Intensified efforts will be put into investment promotion in State-level economic and technological development areas, whose exemplary, radiation and leading roles should be brought into full play. Wu Yi stressed that the Chinese Government attaches great importance to IPR protection. It is impossible to create a sound investment environment without giving priority to the protection of IPR of foreign enterprises. A sound investment environment especially the soft investment environment is an important symbol of the social progress in a country and an important guarantee for its economic development, as well as an important reflection of its international competitive edge. The Chinese Government will strive to provide to foreign investors a stable and transparent policy environment, a unified and open market environment, and a standardized and high-effective administrative environment. Director of General Administration of Quality Supervision, Inspection and Quarantine Li Changjiang, Chairman of China Banking Industry Regulatory Commission Liu Mingkang, Vice Minister of Finance Lou Jiwei, Vice Minister of Commerce Ma Xiuhong, Vice Director of Customs General Administration Sheng Guangzu, Vice Director of State Administration of Taxation Hao Shaocheng, Vice Director of State Industrial and Commerce Administration Liu Yuting, Vice Director of State General Administration of Foreign Exchange Ma Delun, and representatives from nearly 80 multinationals investing in China participated in the Symposium. Symposium on Multinationals' Investment in China 2003 Held download