Foreign investors are being encouraged to enter China's
billion-dollar environmental protection industry, a blue-chip
sector growing in double digits annually, said Zhang Zhigang,
vice-minister of the
State Economic
and Trade Commission.
Zhang said China will invest US$ 85.4 billion (700 billion yuan) in
controlling pollution over the next five years. He spoke at the
China Environmental Roundtable held in Beijing.
In
the next five years, the central government will continue to
support pollution-control industries, especially the production of
anti-pollution materials and equipment, recycling of waste and
environment consultation.
The total value of China's environmental protection industry is
expected to reach US$ 24.4 billion (200 billion yuan) by the end of
2005, Zhang said.
Therefore, China is hoping to attract more foreign investment for
pollution control during the 10th Five-Year Plan period (2001-05),
he said.
He
also said that China's rapidly growing anti-pollution industry
would provide "many good opportunities" for foreign investors,
including simplified procedures.
Foreign investors and some State-owned enterprises also may enjoy
some preferential policies if they invest in China's environmental
protection industry, Zhang said. He would not elaborate on what
those policies would entail. But he also emphasized that all
environmental protection projects should receive an all-round
appraisal to ensure their feasibility.
During the country's Ninth Five-Year Plan period (1996-2000),
foreign investors injected US$4 billion (33 billion yuan) into
China's environmental protection industry, largely in establishing
pollution-treatment facilities.
The China Environmental Roundtable was sponsored by the Economist,
a weekly international news and business publication, in
association with the Economic Research Consulting Center under the
State Economic and Trade Commission.
Senior government officials, environmentalists and representatives
of noted international corporations like BP, Volkswagen and
Sinosphere attended the forum.
(Chinadaily
09/28/2001)