(Yicai Global) April 30 -- China will further open and offer more preferential policies to incoming foreign investment.
This will be true above all for specific sectors in the country's central and western areas, state media China News Service reported yesterday, citing Vice Minister of Commerce Wang Shouwen.
The nation will continue to attract foreign investment, and the Ministry of Commerce is drafting a catalog of sectors to spur foreign investment jointly with the National Development and Reform Commission and other agencies to draw more overseas funds to the country's less-developed interior regions.
MOFCOM will issue these policies without any delay to get the ball rolling on these big projects soon, Wang stated at a press conference yesterday.
The Foreign Investment Law that the National People's Congress passed last month will take effect in January, Wang also said, adding MOFCOM is hastening to issue supporting rules to form a stable, transparent and predictable market environment marked by fair competition.
China will guarantee protection of the rights and interests of foreign intellectual property rights owners, end compulsory technology transfers and optimize the safeguarding of trade secrets, Wang continued.
The country will also further enhance the mechanism of foreign investors' complaints to ensure these receive timely treatment and continue to optimize the overall business environment for overseas investors, the vice minister added.
China will accelerate the positioning of the new batch of free-trade pilot zones that the market pays such attention to and MOFCOM is also studying and planning for their specific implementation in concert with other agencies, Wang noted.
Editor: Ben Armour