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Foreign investment booming in Beijing
( 2002-07-23 16:50 ) (8 )

China's capital city, Beijing has seen a fast growth in investment from overseas in the first half of this year, figures show.

A report from the Beijing Municipal Foreign Economic and Trade Commission says the influx of foreign capital amounts to US$2.85 billions, almost twice that of the previous year.

By the end of June, Beijing had been hosting more than 17,600 foreign-funded firms with a total direct foreign investment of US$35.83 billion.

The report attributes the rapid rise to the efforts of the municipal government in this regard.

Fueled by the prospects of China's entry into the World Trade Organization (WTO) and Beijing's securing the 2008 Olympics, the Beijing municipal government has adopted effective measures to better the city's investment environment.

Starting from January 1 this year, a new system for approving foreign-funded projects came into use, which also provides free consultancy services.

Meanwhile, the municipal government is inviting representatives from multinational companies in Beijing to hold talks with government officials, who are also visiting the companies.

A website promoting foreign investment has also been launched to announce the relevant policies, rules and regulations. And the site is recording approximately 150 visitors a day.