'BRI helps developing nations get more investments'

Chinese Vice Mminister of Commerce Qian Keming on Saturday said the Belt and Road Initiative (BRI) does not increase the debt pressure of countries involved, and as a matter of fact it helps the related economies get more investment they need.

The vice minister made the remarks while replying a question at a press conference at the Media Center here in Beijing in the morning.

The press conference was held on the sidline of the ongoing second session of the 13th National People's Congress (NPC) of China to reply different queries from journalists.

Qian said developing countries are in need of investment, and in the past five years through the BRI China has helped many developing economies in infrastructure construction and production capacity cooperation.

China's Minister of Commerce Zhong Shan and Vice Minister of Commerce and Deputy China International Trade Representative Wang Shouwen also spoke on the occasion.

In his remarks, the commerce minister said the scale of second China International Import Expo, or CIIE, will be bigger than before, with the planned exhibition area of 330,000 square meters, and will attract more exhibitors.

The second CIIE will show more new products, technologies and contents in various forms, he maintained.

Moreover, China will provide more activities and professional service facilities to provide greater sense of gain to the exhibitors, said Zhong.

The commerce minister said China's investment environment is expected to become more stable, open and transparent in the ongoing year as the draft foreign investment law stipulates foreign enterprises will receive pre-established national treatment plus a negative list management system.

Wang Shouwen said the foreign investment law is expected to help establish an environment where foreign companies can compete fairly in China, and better protect the legitimate rights and interests of foreign investors.

Wang also cited that the law will protect the intellectual property rights of foreign investors and encourage technology cooperation based on voluntary principles and commercial rules.

Source: dailysun