Macau has now become an integral part of China after remaining in the Portuguese possession for years. In this convention a few major changes were declared by the Chinese government. In this convention a few laws, regulations and policies were promulgated by the government of China which went into effect almost a decade ago. These laws, policies and regulations have had direct bearing upon the Chinese investment policies. Economy and trade of People's Republic of China has been greatly influenced by these rules and regulations.
The various laws which were announced in this convention of Macau included a new kind of income tax law. This law put great impact on the Chinese investment policies. One of the main concerns of the government of China is that this government try to increase the rate of employment in the country. Chinese government wanted and still wants new investment to be employment oriented. The laws of contract regulating the employment of labors in the various sectors of Chinese economy demands serious attention.
Efforts have been made in the convention at Macau to make a law which will settle many matters related with employment in China. China is now a member of World Trade Organization or WTO. An effective anti-monopoly is on the anvil to solve the issue related with problem of monopoly. To give the investors in China a clear idea about the policies of the Chinese government a very effective trade policy has often been mooted by the government. This policy showed clear direction about the business opportunities in China.
This very important seminar was jointly organized by People's republic of China's Ministry of Commerce and Economic Services and Trade and Investment Promotion Institute. This seminar was held at Lotus room of the 5th floor of the World Trade Center, Macau on 14 of December from 9.30am to 12 noon.
Some important factors that greatly influenced the Chinese investment policies included the following:
1. Chinese government had taken steps to open the automotive industry of the country in a greater way than ever to the private investors of the country. Brilliance Auto was the first company who was allowed to invest in this sector. This decision surely impacted Chinese investment policies.
2. Government of China have taken a major decision to open up the domestic market of refined oil products to the foreign investors. This is one of the major decisions related with the Chinese investment policies. In the recent years a very important joint investment venture has been settled between the Second largest oil company of the nation and Royal/Dutch Shell and Sinopec.
The two companies will now jointly operate petrol stations in China.
3. The idea of investing in logistics to aid in more profitable and expedited shipping from China to trade partners was discussed and agreed upon.
Looking back, this meeting in Macau was truly a groundbreaking moment in the growth of China over the last decade.
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