Foreign Trade on Agenda-China With China’s entry into the
World Trade Organization in sight, Jilin Province
is determined to step up its foreign trade and
attract more overseas investment.
To court more foreign
investment and increase exports is on top of the
province’s work agenda for the next few
years.
During the 10 th
Five-Year Plan period (2001-2005), the province’s
committed overseas investment is expected to reach
US$2.9 billion, increasing by 2.6 percent
year-on-year.Actual overseas investment will increase 4
percent annually to US$1.83 billion.
The province has
selected eight major sectors that need investment
:
Agriculture, animal husbandry and
fishery.Emphasis will be put on deep processing of
grains, domestic animal raising and processing,
comprehensive development of agricultural
resources, application of new technology,
irrigation, and animal breeding.
Automobile and petrochemical
industries, including auto, spares parts
and auto electronic cell manufacturing, fine
chemical and ethylene products deep processing,
food, medicine, electronics industries, and the
development of new products and technology.
Rawmaterials
and related processing industries, which
include chemical fibre, new building materials,
forestry products processing, paper-making and
energy-saving metallurgical products.
High – tech industries.Emphasis
is put on new materials, bio-pharmaceuticals,
modernization of traditional Chinese medicine,
information technology, software and new energy.
Energy, transportation and other
infrastructure sectors.Priority
will be given to the building of wind power
stations, highways, bridges, tunnels and
airports.
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Public
facilities and housing.They mainly refer to the building of water, heating and gas
supplies, transportation facilities and houses for medium and low
income citizens.
Natural
resources exploitation and environmental protection.Emphasis will be the
exploitation of crude oil, natural gas, non-metal minerals,
renewableresources
and environmental protection.
Technical upgrading of enterprises.The province welcomes
foreign investors to help revitalize State-owned Enterprises,
including technical upgrading, developing new products, improving
products quality and reducing energy and materials consumption.
Overseas capital is also expected to
flow into the fields of finance, insurance, telecommunication,
business and trade, tourism, education and other service industries.
The province will strengthen its
economic relationships with the Fortune Global 500 companies and
other transitional entities.
Enterprises in the pillar and dominant
industries are expected to attract more investment from these
entities.
The province has pledged to provide a
better investment environment in line with internationally accepted
practices.
Besides offering preferential policies
in terms of tax levies and land use, Jilin will draft and issue and
amplify local regulations pertaining to overseas investment to
guarantee the legitimate rights of investors.
It will also standardize
fees-collecting system and improve all-around services for
overseas-funded companies.
To promote exports will also be a heavy task for the province during
the next five years.
By 2005, export volume is expected to register US$1.85 billion,
increasing on average by 9 percent annually.
China in Brief
