China will continue to cooperate with overseas investors, government agencies and international organizations to build a more favorable investment environment in the country, said Chinese Vice-Premier Wu Yi in Xiamen Monday.

In her luncheon address on the opening day of the 7th China International Fair for Investment and Trade (CIFIT), Wu, also a member of the Political Bureau of the Central Committee of the Communist Party of China, said that a favorable investment environment is becoming more important as investors try to take initiative in global competition.

In the context of globalization, which has posed both opportunities and challenges to the world, economic cooperation and mutual development has become a common aspiration and choice of all nations, Wu said.

Wu said that China will implement a policy that encourages both inbound and outbound investment, continue to raise the level of opening up and strive to realize common economic development of China and the world.

While further improving the socialist market economy system, Wu noted, China will maintain the continuity and stability of macroeconomic policies and a basically stable currency.

The country will also continue to streamline market conditions, strengthen its intellectual rights protection and make efforts to build a more open, equitable, and credible market environment, Wu said.

To attract more overseas investment, Wu said China will abide by its commitment of improving its laws and regulations on foreign investment and strive to provide a stable, transparent and efficient administrative environment.

Wu said that China is expected to continue its rapid development over the next 20 years, and she hopes overseas investors maintain their confidence in China and expand their investment in the country.

(Xinhua News Agency September 9, 2003)