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Central China becoming ideal destination for foreign investment

Updated: Apr 26,2017 7:57 AM     Xinhua

BEIJING — Central China is becoming an ideal destination for foreign investment, according to a senior commerce official on April 25.

Unlike coastal areas, central China has many unique advantages in attracting foreign investment, which saw similar FDI growth to the national average in the first quarter of this year, Wang Shouwen, deputy head of the Ministry of Commerce said at a press conference about the Expo Central China 2017, to be held in Hefei, capital of central China’s Anhui province from May 17 to May 19.

Central China includes six provinces: Anhui, Henan, Hubei, Hunan, Jiangxi and Shanxi.

Chinese exporters can send their products via China Railway Express to Central Asia and Europe while products made in central China can exploit markets in both east and west of the country, according to Wang.

Central Chinese provinces are rich in labor and talent as many local people have returned from coastal areas to seek jobs or set up their own businesses, he added.

To encourage foreign investment in central China, the central authorities decided in March to allow 43 sectors in the region to enjoy preferential policies such as reduced taxation when receiving foreign investment.

For the first time since the Expo Central China began in 2006, China will hold a high-level meeting during the expo to gather ideas and suggestions by foreign companies to help improve the investment environment, according to Wang.