Addressing a gathering ushering in the Spring Festival, Chinese Lunar New Year, for Chinese and foreign entrepreneurs, Zhang said Beijing is devoting more efforts developing new and high-tech industries, modern service and agriculture, transforming its old houses in urban districts and strengthening environmental protection. Projects in those areas offer a good chance for foreign investors.

Zhang pledged Beijing will act in accordance with international practice and create a better and convenient investment and trade environment for all investors to Beijing.

More than 400 guests including diplomatic envoys in Beijing and entrepreneurs from 160 foreign firms attended attending the gathering.

Beijing has so far approved 15,882 foreign-funded enterprises, with US$21.6 billion of overseas investment already materialized.

(Xinhua 01/19/2001)