Chinese Vice Premier Wu Yi said Thursday that China would amend regulations to encourage foreign-funded companies to invest in the central and western areas.

Wu made the remark while addressing the opening ceremony of the World Economic Development Declaration Conference and the China Business Summit.

As part of an ambitious plan to develop the western part of the country, China has decided to invest more in the infrastructure construction and support the setting up of economic and technological development zones in the region.

Besides western areas, other regional economic development will also provide great opportunities to foreign investors, noted Wu. The Yangtze River Delta and Pearl River Delta are expected to take a lead in the national economy and to extend their success to other comparatively less-developed regions, she said.

The reviving of the old industrial base in the northeastern part of China, especially the restructuring of the state-owned enterprises, will also provide new space for foreign investors, she said.

While sparing no efforts to woo foreign investors, China will try to cultivate its own multinationals and create a favorable environment for domestic companies to explore the overseas market, said Wu.
 
(Xinhua News Agency November 6, 2003)