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While assisting the Minister in guiding the overall work of MOFCOM, Mr.Yu's portfolio also covers the Department of General Economic Affairs, Department of European Affairs, Department of Foreign Affairs, MOFCOM Party Committee, Department of Retired Cadres’ Affairs, China Foreign Trade Center and China-Europe Association
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China Will Create More Favorable Environment to Encourage Enterprise Investment Overseas
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Yu Guangzhou, Vice Minister of Ministry of Commerce of People’s Republic of China , said China would perfect the service system of overseas investment , creating a policy environment of going global, promoting resources development , contracting project and processing and assembling abroad.

Yu said on National Commercial Working Conference, one of the focal points of commercial work next year would be to carry out the strategy of “going global” , conferring more decision-making power of external management on all kinds of enterprises. According to the statistics released by Ministry of Commerce of People’s Republic of China, China has set up 2.328 thousand enterprises in 128 countries (regions) by the end of 2002. And net amounts of investment overseas are close to US$30 billion, with US$ 0.1065 trillion in external contractual projects and cooperation of labour services. From Jan. to Nov., 2003, 448 external enterprises were newly approved by China, with contractual investment US$1.74 billion, up by 45.5% and 91.6% respectively compared with last year.

(Information by Service News Centers of MPIS)



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