Govt policy discourages FDI for exports
Source: fibre2fashion Date: 2007-11-15
The National Development and Reform Commission (NDRC) stated yesterday that China will not provide any further cover policy support to export-oriented foreign direct investment.
On the one hand NDRC aims to maintain a balance between promoting domestic industries and encouraging foreign investments while on the other, it wants to take meticulous decisions about some strategic and sensitive industries.
Recently, the NDRC also asserted that investments in mines and non-renewable minerals will not be backed by the Government.
Furthermore, foreign investments directed towards safeguarding the environment, cutting down of pollution and developing renewable energy will be increasingly encouraged. This apart, investments in high-technology, advanced materials and manufacturing of equipments will also be given a green signal.
