Foreign businesses looking to tap the Chinese market have a new
avenue to help do so from April 18 following the launch of a portal
giving them full access to over one million Chinese government
purchasing organizations and more than 100,000 investment projects.
The Invest China (http://invest.china.cn), a web
portal hosted by China Internet Information Center, is the largest
one in China, providing details on more than one million government
purchasing organizations and giving Chinese businesses the low-down
on capital, goods and services from accredited foreign companies.
As such, it can act as a nexus for foreign investors seeking to one
of the globe's largest and most powerful markets.?
"The new portal adds transparency, thereby reducing the risk for
Chinese companies looking to source foreign products. The portal
also will help foreign companies better understand the China market
and participate more in China's rapid economic growth and
development," Li Jiaming,? vice president of China Internet
Information Center, said at the press conference in Beijing.
As one of the world's fastest-growing economies, China has so
far welcomed over 570,000 foreign-funded enterprises with ever more
knocking at the door. In the first quarter of this year, 9,297 new
foreign companies were set up in the domestic market, up 4.36
percent year-on-year.
China abides by commitments to not only attract more foreign
investment, but to fully integrate into the WTO and in so doing
stimulate imports of foreign capital, products and services.
According to a WTO global trade report, released on April 12,
China became the third largest trading nation in the world last
year. It reached a record US$792 billion import volume in 2006,
bettered only by the US and Germany. In the same year, Chinese
government purchasing topped US$40 billion, close to 40 percent of
which went towards foreign goods and services.?
The next few years will witness China's vigorous pursuit of more
imports through such moves as allowing the famed Canton Fair,
formerly purely export-oriented, to diversity and cater to imports
in equal measure. Furthermore, both the Chinese government and
national enterprises have pledged to disburse more in making
foreign purchases.
Giving these developments, the launching of Invest China is
perfectly timed and will corner the correct market demand.
"Invest China will become one of the most influential and
authoritative e-commerce portals in China, providing Chinese
governments and businesses with easy and quick access to foreign
capital, products, and services. We are extremely optimistic for
the future," Li said.
The launching ceremony was attended by representatives from
prestigious organizations, including the China International
Publishing Group, China Council for the Promotion of International
Trade, the National Development and Reform Commission, government
purchasing centers, trade missions, foreign embassies in China and
major government news websites.
(China.org.cn April 18, 2007)
