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| Portfolio |
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| Mr. Chen Jian's portfolio is consisted of the Department of Asian Affairs, Department of Foreign Economic Cooperation, the China International Contractors Association, the Association of International Engineering Consultants, and China International Economic Cooperation Society. He also assists Vice Minister of Commerce Ma Xiuhong in her responsibilities with respect to the Investment Promotion Agency. |
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Add:No.2 Dong Chang'an Avenue,Beijing China (100731)
Tel:(010)87519094
Fax:(010)87519093 |
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| Speech of Mr. Chen Jian at the Press Conference of the Information Office of the State Council |
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| 2005-07-12 08:46 MOFCOM |
Ladies and Gentleman, and Friends From the Media:
Good Morning!
Welcome to today's press conference. I would like to take this opportunity to introduce the status and policies of China in foreign investment invitation and overseas investment.
As we all know, within 26 years of China’ open-up, it positively attracted foreign investment to promote development. Chinese government listed foreign investment invitation as an important part of open-up, earnestly researched the development tendency of transnational FDI worldwide, timely caught the opportunity of adjustment of global economy structure, combined the foreign investment invitation with the target of economic development, drew up positive and reasonable policies and measures to attract foreign investment, gradually upgraded the level of foreign investment attraction and optimized step by step the structure and quality of foreign investment. By the end of May 2005, number of newly approved foreign investment enterprises were 525378 with commitment of US$1.1615 trillion, and the actual use of foreign investment reached US$584.4 billion. Foreign investment was used in various sectors like manufacture, service industry, agriculture and infrastructure construction. Now, more than 190 countries and regions went to China for investment and about 450 of Global Top 500 Transnational Companies invested in China, and over 30 of them set up headquarters and foreign investment R & D centers in China have exceeded 600.
Foreign investment promoted China’s economic development by leaps and bounds. In recent years, as the main force of China’s export-oriented economy, the driving-up of foreign investment enterprises to national economic development was obviously enhanced. In 2004, investment in fixed assets by foreign investment enterprises accounted for about 12% of total investment in fixed assets in China, and industrial value added for 28% of national’s. Exports by foreign investment accounted for 57% of national exports.
While doing a better job of foreign investment attraction, China was striving to push forward the development of all business in foreign economic cooperation, to positively guide and promote enterprises to “Go Global” and made pleasing achievements. By the end of 2004, total non-financial overseas direct investment hit US$36.8 billion, turnover of overseas project contracting were US$114 billion and contract value were US$156.3 billion, total turnover of foreign labor service cooperation reached US$30.8 billion with contract value of US$36.1 billion. In Jan. through May, non-financial overseas direct investment were US$1.8 billion and turnover of overseas project contracting US$6.6 billion, up by 10% on a year-on-year basis, the newly signed contract value reached US$9.1 billion, up by 28%.
Ladies and Gentlemen:
Open-up is a long-term consistent basic state policy of Chinese government. Its all-dimensional, multi-layered and wide-ranging opening pattern was formed after efforts in many years. China will go on further expanding the open-up according to the demand of self-development and commitment to the outside. While endeavoring to open further domestic market and introduce foreign investment, China will positively walk out in the international market to promote further development of world economy. In the aspect of attracting foreign investment, China will further improve the investment environment, perfect the laws, regulations, measures and policies of utilization of foreign investment, keep the stability and continuity of foreign investment policies, focus on the encouragement of foreign investment in hi-tech, modern service and agricultural industry, strive to attract transnational companies to transfer institutions of research and processing procedures with higher technology and more added value in China and promote the cooperation of foreign investment enterprises with domestic enterprises in technology research, sources purchasing and market exploitation. In the aspect of implementation of “Going Global” strategy, China will further enhance the strategy, improve laws, regulations and service system of foreign investment, endow domestic enterprises with more rights to manage their overseas business, perfect the mechanism of risk prevention and form the two-way pattern of open-up combining " Bringing Home" with "Going Global”.
Ladies and Gentlemen:
In order to attract more high-quality foreign investment and to promote the overseas investment of Chinese enterprises, the Ministry of Commerce of PRC holds China International Fair of Trade and Investment in Xiamen from Sept. 8 to 11 each year. The fair has been successfully held for 8 times since 1997 and obtained great achievements, total over 15000 investment and cooperation projects were signed with a contract or agreed value of US$94.3 billion.
Chinese market is vigorous and full of opportunities, and Chinese enterprises maintained a good momentum of foreign investment and cooperation. China International Fair of Trade and Investment was the most convenient channel for foreign enterprises to seek cooperation in China. We sincerely welcomed friends in business community from all over the world to attend the Fair. Meanwhile, we hoped that with the help of friends from the media, policies on China’s open-up could be known by more people in both China and the world.
Thanks!
(Source: Network Center of MOFCOM)
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