国内英语新闻:China's investment environment improving, not worsening

However, China is no longer in desperate need of capital as the country has accumulated huge foreign reserves, but China still seeks technologies and management, in some cases even more strongly than before, such as those related to clean energy, sustainable development, pollution control, health care and medical areas, Robert Lawrence Kuhn, an international investment banker and corporate strategist, told Xinhua.

"The challenge for China now is to attract the right kind of FDI as it strives to rebalance its economy, improve the environment, and move up the value chain," the World Bank said in a report released Saturday.

"As a result, recent FDI strategies have taken a more selective approach to attract environmentally sustainable, energy efficient, and technologically advanced industries. As befits its economic global rank, China is providing a level playing field for all firms, domestic or foreign alike," the report wrote.

China has scaled back tax privileges for international companies, putting them on an equal footing with their Chinese peers by unifying the corporate income tax rates for Chinese enterprises and foreign companies.

In April, China unveiled new foreign investment rules, encouraging foreign investment in high-tech industries, the service sector, and energy-efficient and environmental protection projects, especially in China's central and western regions.

Qualified foreign-funded companies will also be allowed to go public, issue corporate bonds or medium-term bills in China.

Chinese officials stressed that the restriction for investment in industries that pollute or with over-capacity problems was not aimed at turning foreign investors away.

In the post-crisis era, one of the changes in China's investment environment is that the country is focusing more on the quality and efficiency of incoming foreign investment, said Zhang Yansheng, a researcher at the National Development and Reform Commission, the country's top economic planner.

"The change is not only in line with China's efforts to transform its economic development pattern, but also is consistent with the global trend of cutting emissions and developing low-carbon economies," Zhang said. "The policy adjustment is fair as it applies to both domestic and foreign companies."