China vows to further open up, improve investment environment

BEIJING -- China's commerce ministry said Wednesday that the country would remain committed to opening-up, further liberalize investment and build an investment environment with international competitiveness.

"China will provide more investment opportunities for multinational companies, and create an investment environment that is more stable, fair, transparent and predictable," Qian Keming, vice minister of commerce, told a press conference.

Calling multinationals important participants, witnesses, contributors and beneficiaries of China's reform and opening-up during the past four decades, Qian said the country's policy stance on encouraging foreign investment would remain unchanged.

Some 490 of the world's 500 largest companies had investments in China, according to data from the ministry.

Hao Hongmei, a researcher at the Chinese Academy of International Trade and Economic Cooperation under the ministry, attributed the country's attraction for multinationals to its deep integration into the global industrial chain and value chain as well as the incentives to further open up and liberalize investment and trade.

The country is scheduled to host the first Qingdao multinationals summit on Oct 19 to 20 this year, which will be forged into a new platform for the country's greater opening-up, Qian said.

Some 188 executives of overseas enterprises from 26 countries and regions have confirmed their participation in the summit, Ren Airong, deputy governor of Shandong Province said at the conference.