China Seeking Value Added Investorsposted by MR WAVETHEORY at 11/09/2006 06:17:00 PM
Did they get a private equity guy to write this statement? It sounds like something straight out of a venture capital / private equity fundraising document.
The planning agency said its major goal is to advance what it calls a "fundamental shift from quantity to quality" of investment. For instance, new investments by foreign companies will face stricter environmental and land-use standards, in an effort to weed out projects that use up scarce resources without contributing much to the local economy. On the other hand, multinationals can expect incentives to invest in things such as research centers and training and purchasing operations.
"We will strive to realize a shift by foreign investors away from simple processing, assembly and low-level manufacturing and into research and development, high-end design, modern logistics and other new areas," an unnamed commission official said in a statement accompanying the plan. "This will help our country become one of the world's manufacturing bases for high value-added products."