Over the last 20 years, China's government has made great achievements in attracting foreign investment and developing an export-oriented economy. Foreign investors have been attracted to China by its rapid economic growth, with the latest quarterly economic expansion rate running at 7% (as of December 2001).
The government has promulgated various favourable policies for foreign investment and assigned several special regions. The favourable policies mainly cover the hi-tech industry, agriculture, forestry, telecommunications, energy, export-oriented sectors.
The special regions include five Special Economic Zones (SEZ), i.e., Shenzhen, Zhuhai, Xiamen, Shantou and Hainan (note - Shanghai's Pudong area isn't an SEZ, but is treated in the same way), 14 coastal cities (Beijing city is treated as a coastal city) and 52 state-level hi-tech development zones or hi-tech bases. These special regions can provide overseas investors with a more advantageous environment in terms of advanced infrastructures, land and qualified human resources.
Analysts say that China's stable economic situation amid a slowdown in the world economy is the main factor behind FDI growth. Many overseas companies have increased their investment in China following the country's entry into the World Trade Organisation. The Chinese government has been actively promoting foreign trade, including calling off import adjusting tax and export subsides and cutting tariff rates. It also promises to reduce the number of goods which need import permit licenses and abolish import quota in the future.
Interested in investing in other provinces in China?
Jiangjin, Chongqing, China - download Welcome to Jiangjin and Invest in Jiangjin. For more information, please contact Zhou Bo, Vice Director, Jiangjin Foreign Economic Relations Commission of Chongqing on zbcabin@hotmail.com or 1512 306 8989.
Qingdao: Qingdao National Hi-tech Industrial Development Zone. Visit their website here for more information or contact Mr. Wang Junyuan, Section Officer, on +86-532-8202 0886 or wangjunyuan@qingdao.gov.cn.
