Abstract
The man credited with slowing Chinese inflation over the past two years while averting an economic recession, Vice Premier Zhu Rongji, chose the World Bank and International Monetary Fund annual meeting in Hong Kong last week as his venue for a sneak preview of planned economic reforms. Statistics show that foreign investments in have dropped substantially over the past year and a half. The reforms announced by Zhu, who is expected to become China's next premier after Li Peng steps down next March, are aimed at reversing that trend. Sure to please international chemical investors was Zhu's suggestion that companies would not have to pay duties on the equipment they import. China will reintroduce certain policy incentives toward the import of equipment needed for the foreign-invested projects that meet requirements, Zhu stated. But these projects must first of all conform to the industrial policies of and bring about new technologies. Further details of ...
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