No foreign monopoly in any industry, report

时间：2007-09-10 08:46:09

（单词翻译:单击）

Sept. 10 - The country does not face an imminent1 risk of monopoly by foreign companies in any industry, according to the China Foreign Investment Report 2007 released by the Ministry2 of Commerce.

 

Wang Zhile, director of the Multinational3 Enterprise Research Centre affiliated4 to the Ministry of Commerce, made the observation in an essay for the report in response to people's rising concerns about possible foreign monopolies in the country.

 

He explained that although foreign investors5 do have a large market share in certain industries, it does not necessarily mean monopolies.

 

The market share is usually held by different foreign-funded enterprises that compete with each other and those who have a large share do not use it to restrain competition in the market, which is the nature of a monopoly.

 

China had approved the establishment of more than 610,000 overseas-funded companies by the end of July, with actual use of overseas investment totaling $720 billion, a Ministry of Commerce official was quoted as saying by Xinhua yesterday.

 

The report was released in Xiamen, Fujian Province, yesterday during the China International Fair for Investment and Trade (CIFIT) along with a series of booklets introducing Chinese provinces and cities to potential foreign investors, and guidelines for Chinese enterprises' outward investment.

 

Policy Revisions

 

In a related development, Zhou Xiaochuan, governor of the People's Bank of China, told the main CIFIT forum6 on Saturday that the country is likely to adjust its financial polices to support Chinese companies' outbound investment.

 

Revisions will be made to the current foreign exchange policies that encourage currency inflows while limiting outflows, he said.

 

The central bank will further develop the foreign-exchange market to help companies hedge currency risks and simplify procedures for companies investing outside.

 

"We will remove unnecessary controls on reviewing sources of foreign-exchange funds and on foreign currency purchase and remittance7 procedures to allow companies to use their own funds or converted currencies to invest abroad," Zhou said.

 

The government also encourages qualified8 commercial banks to set foot abroad by establishing branches or acquiring stakes in overseas counterparts, he said.

 
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1 imminent zc9z2     
adj.即将发生的，临近的，逼近的
参考例句：
  • The black clounds show that a storm is imminent.乌云预示暴风雨即将来临。
  • The country is in imminent danger.国难当头。
2 ministry kD5x2     
n.(政府的)部；牧师
参考例句：
  • They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
  • We probed the Air Ministry statements.我们调查了空军部的记录。
3 multinational FnrzdL     
adj.多国的，多种国籍的；n.多国籍公司，跨国公司
参考例句：
  • The firm was taken over by a multinational consulting firm.这家公司被一个跨国咨询公司收购。
  • He analyzed the relationship between multinational corporations and under-developed countries.他分析了跨国公司和不发达国家之间的关系。
4 affiliated 78057fb733c9c93ffbdc5f0ed15ef458     
adj. 附属的, 有关连的
参考例句：
  • The hospital is affiliated with the local university. 这家医院附属于当地大学。
  • All affiliated members can vote. 所有隶属成员都有投票权。
5 investors dffc64354445b947454450e472276b99     
n.投资者，出资者( investor的名词复数 )
参考例句：
  • a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
  • a cash bonanza for investors 投资者的赚钱机会
6 forum cilx0     
n.论坛，讨论会
参考例句：
  • They're holding a forum on new ways of teaching history.他们正在举行历史教学讨论会。
  • The organisation would provide a forum where problems could be discussed.这个组织将提供一个可以讨论问题的平台。
7 remittance zVzx1     
n.汇款，寄款，汇兑
参考例句：
  • Your last month's salary will be paid by remittance.最后一个月的薪水将通过汇寄的方式付给你。
  • A prompt remittance would be appreciated.速寄汇款不胜感激。
8 qualified DCPyj     
adj.合格的，有资格的，胜任的，有限制的
参考例句：
  • He is qualified as a complete man of letters.他有资格当真正的文学家。
  • We must note that we still lack qualified specialists.我们必须看到我们还缺乏有资质的专家。

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