China to protect interests of foreign investors

Beijing, March 2 (IANS) China on Wednesday sought to allay the fears of doing business in the country, saying it believes in protecting the interests of foreign investors.

It also said that efforts were on to paint a grim picture of China but that would not deter foreign companies from doing business as the country had favourable policies for investors.

Talking on the eve of the 4th Session of the 12th Chinese People’s Political Consultative Conference National Committee (CPCCC), its spokesperson Wang Guoqing said the Chinese policy of attracting foreign investors “will not change”.

“Business activities in China are not getting worse but better. Last year, from January to November, the number of foreign companies coming to China increased by 11 percent,” Wang said.

The world’s second largest economy witnessed the slowest growth last year since 2009. The stock market crash and devaluation of the yuan in 2015 made matters worse, triggering fear in the global market.

“China will remain the favourable destination of foreign investors,” Wang asserted at the Great Hall.

The CPCCC is the country’s top political advisory. The meeting comes before the session of the National People’s Conference (NPC) — parliament — begins on March 5.

The 13th Five Year Plan will be discussed by around 3,000 members of the country’s legislative body.

Economic development and worsening pollution are some of the likely issues to be discussed.

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