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Free land use right will be granted to certain multinationals planning to invest in northwest China's Shaanxi Province, local government sources revealed Wednesday.
The privilege of free use of land will be offered to leading multinationals that plan to set up enterprises in the province's state-level economic development zones and invest in the sectors encouraged by the government, reliable sources said.
"This is a highly innovative decision to attract more foreign investment and make the province's economy more export-oriented," a local official said.
This policy will be formally announced at an upcoming conference aimed to enhance economic cooperation between the eastern and western parts of China, scheduled to open on April 6.
"This policy will greatly lower the cost for foreign companies to invest here, and improve the structure of foreign investment," said the official.
The privilege will also be offered to foreign companies planning to invest in harnessing barren mountains and deserts in Shaanxi, according to the sources.
So far, investors from 58 countries have started businesses in the province, and 18 of the world top 500 multinationals have opened offices here.
(Xinhua 04/04/2001)
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