China bids to attract more investment

International firms likely to take part in bids for govt procurement contracts

The authorities on Friday moved to lure more direct foreign investment, with one minister announcing that international companies would be entitled to participate in bidding for government procurement contracts - as long as their products are made in China.

Vice-Minister of Commerce Wang Shouwen told a news conference in Beijing that the government had noticed that China's ability to attract foreign direct investment had in recent years been challenged by a number of factors, such as the cost advantages of domestic production.