China will sharpen the country's international competitive edge
through the better utilization of foreign capital, said a white
paper issued over the weekend.
Such efforts include mergers and acquisitions, investment funds and
securities investment in an effort to attract medium and long-term
overseas investment, according to the government's white paper on
economic development.
The annual white paper was written by officials and research staff
at the State Development Planning Commission.
Efforts should be made to attract multinational companies to
invest, set up research and development centres, and participate in
the restructuring and regrouping of state-owned enterprises in
China, the paper said.
The white paper - entitled "Report on China's National Economic and
Social Development for 2002" - contains the government's major
policies and strategies for economic and social development.
On
the main objectives and tasks for 2002, the government stressed
that to sustain relatively fast economic development, it is
imperative to make strategic readjustments to the country's
economic structure by focusing on improving economic
efficiency.
"Development must be the theme. If there is no economic
development, there is no sustainable enhancement of international
competitiveness and living standards of all the people," said the
report.
On
strengthening agriculture's primary position, the report gives
special emphasis to speeding up the reform of the taxation system
in rural areas. It said that the number of government staff in
towns must be cut and that taxes and fees on farmers must be
reduced.
On
the strategy for infrastructure construction and resources, the
report stressed the importance of handling the issue of water
conservation from a strategic perspective.
The government will continuously implement preferential policies to
support the country's strategy of opening up the western regions,
which includes stepping up financial support for and encouraging
enterprises at home and abroad to invest in the regions.
In
reviewing its economic and social development achievements of 2001,
the government said China has greatly increased its forces of
production and improved people's living standards. Last year,
China's economic growth rate was 7.3 percent, and the target for
this year is 7 percent.
(China
Daily June 3, 2002)