BIZCHINA / Investment Alerts

Yanbian eyes future investment By Te Kan (China Daily) Updated: 2006-09-28 09:02 They have so far visited the Republic of Korea, Japan, Russia and China's developed coastal regions. "The prefecture government specially allocates 10 million yuan (US$1.25 million) every year to attract investment," said Ximen Shunji, deputy chief of the prefecture. Since 2003, the prefecture has used foreign investment of US$148.28 million, accounting for 4.39 per cent of the prefecture's fixed-asset investment. During the past three years, domestic investment from outside the prefecture reached 4.37 billion yuan (US$546 million), 18.1 per cent of the prefecture's fixed-asset investment. Domestic and foreign leading enterprises, such as the Harbin Brewing Group Limited, the Hangzhou Wahaha Group, Wal-mart, Beijing Tongrentang Apothecary, Jiangxi Wang's Bee Garden Company and NHN Corporation from the Republic of Korea have established their branches in the prefecture. To better promote investment, the prefecture opened two websites, www.ybinvest.gov.cn and http://invest.yanbian.gov.cn to offer professional and timely information for interested investors. The prefecture has established six industrial parks in Yanji, Hunchun, Dunhua, Longjing, Tumen and Helong and is planning to build two more industrial parks in Wangqing and Antu counties. To improve the investment environment and better serve foreign investors, the prefecture issued "Certificates of Preferential Treatment" to foreign investors and their family members. The certificates provide them with better security and medical service and their children can go to the best local schools. The prefecture has set up a special office to receive complaints from foreign investors, the first of its kind in the province. The office solves more than 100 cases every year. "We hope to attract more investment in mineral resources, tourism and medicine sectors, which are the prefecture's traditionally strong industries," Ximen said.   1 2 (For more biz stories, please visit Industry Updates)

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