BIZCHINA / Investment Alerts
EU to increase investment in West China
(Xinhua)
Updated: 2006-11-08 14:57
The Asian Investment Strategy program initiated by the European Union
(EU) will focus on China's western regions, said an EU official on
Tuesday.
"The Asian Investment Strategy aims to provide investment to the regions
whose economy development level is below the average of the country,"
said Vincent Piket, an EU official in charge of the Asian aid programs.
"As for China, our focus is the west," said Piket at a press briefing
following the two-day Asian Investment Forum held in Chengdu, capital of
Southwest China's Sichuan Province.
The EU will increase its investment in West China, including Sichuan,
Guizhou, Yunnan, Shaanxi, Gansu and Qinghai provinces and the Xinjiang
Uygur and Tibet autonomous regions, according to the third-phase plan of
the Asian Investment Strategy (2006-2007).
The EU will provide between 75 percent and 95 percent of the capital
depending on the development needs, said Piket.
The Asian Investment Forum, which aims to facilitate international trade
and investment between European and small and medium-sized Asian
enterprises, was initiated in 1998 by the Europe Commission.
It has so far launched over 300 investment projects, involving more than
1,000 organizations.
The forum has been held five times and this year's was the second time
China played host. Beijing was host city in 2002.
(For more biz stories, please visit Industry Updates)
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