The Chinese government is to encourage more foreign investment in energy-saving and environmentally-friendly industries, Vice Minister of Commerce Ma Xiuhong has said.

 

The government would also make more efforts to optimize the industrial structure of foreign investment, said Ma.

 

Foreign investors have invested US$665 billion in China in the past 27 years, Ma said. By the end of last September, China had recorded capital from over 200 countries and regions and more than 800 research centers have been established by foreign companies.

 

Foreign investment played an important role in China's economy, with taxes from foreign firms contributing 634.9 billion yuan (US$80.36 billion) last year, 21 percent of the country's total tax revenue.

 

By the end of last year, foreign-invested companies were employing more than 25 million people, accounting for 11 percent of China's total jobs.

 

Foreign companies are also encouraged to set up regional headquarters as well as purchase, logistics and training centers in China.

 

(Xinhua News Agency November 6, 2006)