Vice Mayor of Beijing Zhang Mao said Monday that Beijing would not withdraw any preferential policies for foreign investors with China's entry into the WTO.
Zhang made the remarks at the ongoing fifth session of the 11th Beijing People's Congress.
Beijing is to encourage foreign investment in high-tech ventures and infrastructure projects. The municipal government is making greater efforts to create a better investment environment instead of adopting additional preferential policies.
The capital also encourages transnational corporations to establish their regional headquarters as well as research and development centers in the city.
The vice mayor has pledged to continue to streamline the procedures for foreign investment approval.
By the year of 2001, 159 of the world's top 500 ventures had invested in Beijing and by last September a total of 5,049 foreign-funded enterprises had become operational in Beijing.
(People's Daily January 29, 2002)
