China to Create an Equal and Transparent Market to Attract More Foreign Investment
China has promised to create a more equal and transparent market in efforts to attract foreign investment in the big data and e-commerce that has streamline administration. Industries that are related to big data and e-commerce are fast growing in China and has great growth potential, plus enterprises from all countries are now welcome to invest in these sectors, as the market is creating a more transparent and equal business environment.
In a keynote speech Li delivered that during the opening ceremony of the China Big Data Industry Summit, attended by leading Chinese and multinational companies including SAP and computer maker Dell Inc. Li said that China will be promoting another round of reform and opening up and at the same time create a nondiscriminatory business environment for all enterprises that are registered in the country whether its domestic or foreign. The government will be controlling 80 percent of the information and data that will be generated in China and will publicize more information, aside from the concern areas such as national security and business secrets.
The government can create a market that will have fair competition as it integrates with big data and the internet to streamline administration. Before attending the ceremony Li inspected a exhibition that was organized by 56qq.com, a local online logistics platform, saying that the platform has increased efficiency and reduced energy consumption which is a good example for a national pilot zone for big data. While addressing with business leaders on the sidelines of the summit, Li said that they are welcoming foreign investment in China especially in the western and central regions. Investment in these regions is better since there is a development disparity between eastern and inland regions and a great growth potential and plenty of investment opportunities in central and western areas.
China will also focus their attention on the protection of intellectual property rights, respect for and protection of trade secrets and to enhance cyber security. According to the director of the Institute of industrial Economics at the Chinese Academy of Social Sciences Huang Qunhui, that China’s big data and e-commerce industries needs more participation from multinational companies and foreign investment that will hopefully boost infrastructure and train professionals.