China to attract foreign investors to service sector
China plans to attract more foreign investment in the service industries, with a particular emphasis on outsourcing, state media reported on Sunday.
By Agencies |
BEIJING: China plans to attract more foreign investment in the service industries, with a particular emphasis on outsourcing, state media reported on Sunday.
China's move to gradually reduce barriers to foreign investments in the service business is part of a broader strategy to go for more eco-friendly and less wasteful "quality investment," the Xinhua news agency said.
"The point (of the transformation) is to absorb advanced technologies and management skills from foreign countries," said Zhang Mao, vice minister of the National Development and Reform Commission.
"Foreign investment companies are expected play a positive role in this regard," he was quoted as telling a forum in Beijing.
He was not quoted as giving any details about which service industries would be opened up to more foreign participation.
But Assistant Commerce Minister Chong Quan, speaking at the same event, said China encouraged multinationals to expand into outsourcing services.
He said his ministry had named 10 cities where "conditions are mature" for outsourcing services, including Beijing and Shanghai.
Foreign direct investment into China hit $6.8 billion in October, up 13.2 per cent from the same month a year ago, the government said last week.
China's move to gradually reduce barriers to foreign investments in the service business is part of a broader strategy to go for more eco-friendly and less wasteful "quality investment," the Xinhua news agency said.
"The point (of the transformation) is to absorb advanced technologies and management skills from foreign countries," said Zhang Mao, vice minister of the National Development and Reform Commission.
"Foreign investment companies are expected play a positive role in this regard," he was quoted as telling a forum in Beijing.
He was not quoted as giving any details about which service industries would be opened up to more foreign participation.
But Assistant Commerce Minister Chong Quan, speaking at the same event, said China encouraged multinationals to expand into outsourcing services.
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He said his ministry had named 10 cities where "conditions are mature" for outsourcing services, including Beijing and Shanghai.
Foreign direct investment into China hit $6.8 billion in October, up 13.2 per cent from the same month a year ago, the government said last week.
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