Economic Policy News
- Companies opt for sustainability
Date: 7-Feb-2007 Sources: (Xinhua Online)
Multinational firms are attaching more importance to China's sustainable economic development, according to experts at the Fifth Transnational Corporations China Forum.
Multinationals are supporting China's sustainable development through technological innovation, improving environment protection and strengthening corporate social responsibility, said Wang Zhile, from the Research Institute at the Ministry of Commerce.
According to a study from the institute, transnational enterprises have become the major force in importing technology to China.
In the past two decades, multinational companies have introduced technology to China, particularly in the areas of trade and manufacturing. In the first 11 months last year, 50.7 percent of technology imports to China were conducted by foreign-invested enterprises.
'Transnational enterprises also contribute to China's technological innovation by establishing research and development (R&D) centers in the country,' Wang said.
After China entered the World Trade Organization at the end of 2001, multinational companies accelerated steps to build R&D centers in China. Philips has set up 13 new branches in China since 2001, five of which focus on research projects.
Zheng Yuewen, an official with the All-China Federation of Industry and Commerce, said the government should continue to encourage 'good FDI', to bring new technology to China and promote the long-term development of its companies.
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