China will open more sectors to foreign investment in emerging industries
Best Growth Stock – China will open more sectors to foreign investment as a measure to encourage capital inflows in emerging industries, announced the national economic regulatory authorities through the official news agency Xinhua.
Under the new provision will promote investment in the areas of technologies for energy saving and environmental protection, information technology, biotechnology, high-level equipment manufacturing, alternative energy, advanced materials and fuel cars alternative.
The new investment guide issued by the National Development and Reform Commission and the Ministry of Commerce of China and will come into effect from January 30, 2012, will reduce restrictions on foreign investment and eliminate limits on the proportion of foreign capital in some sectors, according to Xinhua.
At the same time, the Chinese government will continue to support foreign investment in high-level branch of manufacture, the recycling industry and modern services.
However, it was reported that the support is removed from the auto industry to develop one that is sustainable in China, and foreign investment in the sectors of polycrystalline silicon and carbon chemistry, excess industrial capacity and duplication in buildings.
According to figures from Xinhua, in the first 11 months of this year, China attracted 103,770 billion of foreign direct investment, which meant an increase of 13.15 percent over the previous year.
In addition, during the same period, the country approved the establishment of 25,086 foreign-funded enterprises, up 3.23 percent year on year.
Category: Business News
