1) Continue to enhance the essential factors for a soft environment for investment Among the essential factors for attracting foreign investment in China, the soft environment is particularly important, and the most important is the marketization degree and foreign investment policies, including the construction of laws and systems, perfection of socialist market economy, establishment and implementation of policies and encouraging foreign investment measures, etc.
In consideration of China's unique national conditions, and under the circumstances of given macro-economic essential factors and hard investment environment, the soft environment essential factors have decisive impact on the scale and quality of foreign investment. Enhancement of the soft environment essential factor is a systematic project and is essential to accelerate the process of domestic marketization construction. Foreign investment is the production of market economy and market economy in return is a must for its existence and development. The Chinese government has already completely straightened out and amended related laws and rules and policy-based documents according to the requirements of market economy and the commitments to WTO agreement, also has enabled laws and rules and policies to be established openly, impartially, and transparently. At the same time, the government has ameliorated the investment management approval, improved the service efficiency and reduced approval linkage by taking the opportunity of transforming governmental function.
2) Further improve the quality of macro-economy essential factors and amplify the market opening degree One of the measures is to pay equal attention to the intension and extension styled economic increase, give priority to the intension style, thus to enlarge the market scale, improve economic development level, exhibit a favorable increasing prospect, and to amplify the input of foreign capital and as well to make effective use of it; a second measure is to further amplify the market opening degree. Pioneering under the present circumstances new investment fields and reducing the cost of foreign capital input has already become a crying need for attracting new foreign investment. It includes freshly open or amplify certain fields, for example, finance, insurance, telecommunications and circulation and so on; loosen the share right restriction on foreign investment in certain fields, for example, commerce, foreign trade, automobile, chemical industry and certain development projects like energy, infrastructures and mineral resources, etc.
3) Further perfect the essential factors of hard environment for investment The improvement of the Chinese hard environment for investment has made great headways, and the bottleneck to economic development by infrastructures including transport, communications and energy etc has been essentially eliminated. Therefore, as for the essential factors of hard investment environment, the most pivotal is to accelerate the marketization reform on essential factors supply, to speed up the combination of domestic market and international market, to integrate the quality and price level of service offer, energy utilization, raw material and component part supply with the international market, and to completely release the appealing of hard environmental essential factors to foreign investment.
After China's entry into the WTO, the reform and opening up has entered a new development stage and China will open to the outside world in an all-round, multi-layered and wide-ranging way. In November 2002, the 16th National Congress of the Communist Party of China (CPC) was held and the new central collective leadership was generated, which maintained the stability of national political situation and the continuality of various guidelines and policies, also safeguarded China's reform and opening up to advance smoothly. China has already put forward the grand development goal of building a well-off society in an all-round way. To realize the goal, absorbing foreign investment will exert an important irreplaceable role. Also, foreign investment will acquire better development.
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