SDPC Vice-Minister Jiang Weixin and Director General Kai Hammerich of the Invest In Sweden Agency signed a memorandum on Dec. 3 on the establishment of the investment promotion mechanism, an official from the SDPC said.

According to the SDPC, the mechanism is designed to strengthen bilateral economic and technological cooperation and exchanges and to encourage Chinese enterprises to invest in Sweden.

The two sides agreed to hold consultations on policy, measures taken and major projects regarding China's overseas investment and the attraction of foreign investment to Sweden.

China and Sweden agreed to encourage entrepreneurs from both countries to exchange information and cooperate in investment and to facilitate visits of relevant personnel.

The two sides also set information and telecommunication technology and electronics as the priority areas of their cooperation. They will add more focal areas in the future.

The Swedish government announced in April this year that it would allocate special funds to help Chinese enterprises invest in the country.

(Xinhua News Agency December 9, 2002)