Chinese Vice-Premier Wu Yi said Tuesday that China welcomes the world famous transnational firms to expand investment and cooperation in China, especially in her country's central and western areas.

During in her meeting with Louis Schweitzer, Renault Group chairman and chief executive officer, she said China has made great progress in its economic and trade cooperation with foreign countries since it adopted economic opening and reform policy and its investment environment was further improved with China's access into the World Trade Organization in late 2001.

Despite an overall rapid economic growth, China's economic growth is nevertheless uneven among different regions, and most foreign investors inclined to focus their investment on China's coastal areas rather than the interior areas, Wu acknowledged.

Currently, she added, China is implementing a crucial strategy of developing the western region and rejuvenate the rust-belt northeast industrial base. China hopes the foreign investors will seize the opportunity and expand their business in its central and western areas, Wu said.

Schweitzer, who is in China for discussing a cooperative project with China's Dong Feng Motor Corporation, briefed the Chinese vice-premier on Renault's investment plan in China.

Renault Group, first founded in 1898, is France's second largest automaker. It now ranks among the top ten automobile manufacturers in the world.

(Xinhua News Agency June 23, 2004)