Economy

China vows open and fair environment for foreign investment

(Xinhua)
Updated: 2010-09-13 19:01

TIANJIN - Chinese Premier Wen Jiabao said here Monday that the country is committed to creating an open and fair environment for foreign invested enterprises.

Wen made the remarks at the opening ceremony of the World Economic Forum (WEF) Annual Meeting of the New Champions, also known as the Summer Davos, in north China's port city of Tianjin.

"I wish to reiterate here that all enterprises registered in China according to Chinese laws are Chinese enterprises. Their products are made-in-China products," he said.

He added that all foreign invested enterprises registered in China enjoy national treatment. In government procurement, China gives equal treatment to all products produced in China by foreign invested enterprises and Chinese invested enterprises alike.

He said the China's development is open development and the country's opening-up is long-term, comprehensive and mutually beneficial.

"China gives high priority to intellectual property protection and has already made this a national strategy. We are ready to conduct exchanges and dialogue with other countries in this field, " the premier said.

He said that China's huge market volume, sound infrastructure, strong industrial support ability and stable and fair market environment are attracting more and more multinational enterprises to invest and establish business in China.

China is now one of the world's largest foreign investment destinations. More than 470 of the top 500 global companies have established their presence in China. By July this year, China had received 1.05 trillion U.S. dollars of foreign investment in cumulative terms, ranking the first among developing countries for 18 years in a row.

In the first seven months this year, foreign investment in China increased by 20.7 percent over the same period last year, according to Wen.

The three-day meeting, under the World Economic Forum, attracted some 1,500 high-profile officials, scholars and business leaders from nearly 90 countries and regions.