Foreign investors told to go west

FOREIGN investors are being encouraged to invest in six specific industries in an effort to boost development in the country’s western regions, the National Development and Reform Commission vice-minister Wang Jinxiang said in a recent interview with People’s Daily. 

The six industries are energy and chemicals, finance, mining, production of agricultural by-products, manufacturing, hi-tech and tourism. 

Mainland competitiveness 

THE Chinese mainland overtook Japan and Taiwan in this year’s world competitiveness rankings, the International Institute for Management Development (IMD) said.  

The mainland rose to 15th place from last year’s 18th, while Japan fell from 16th to 24th and Taiwan slipped from 17th to 18th. 

It is the first time that the mainland has moved ahead of Japan and Taiwan since the IMD began the annual list in 1989. 

Zhejiang JV with Tata Tea 

INDIAN firm Tata Tea Ltd has signed a contract with Zhejiang Tea Import & Export Co to form a venture to make green tea products in China. 

The total investment by the joint venture, including a factory at the economic development zone in Anji County in Zhejiang Province, is about 125 million yuan, the Chinese partner said last week. 

Kolkata-based Tata Tea will own 70% of the new company, while Zhejiang Tea will hold the remainder.

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