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Provincial governments in the Yangtze River Delta are striving to curb regional protectionism and facilitate mutual cooperation in investment, trade and business, local officials said Friday.
According to a memorandum of cooperation signed Thursday in Hangzhou, capital of Zhejiang Province, Zhejiang and neighboring Jiangsu Province and Shanghai will give equal access to investment from the two other areas.
The memo was signed by top provincial officials in charge of commerce and industry from Zhejiang, Jiangsu and Shanghai, and the officials promised to encourage trans-provincial private investment within the delta.
Governments in the delta region will also share information on enterprises with poor records through a coordinated credit system.
The companies will be restricted or forbidden to invest in other areas if their business licenses are revoked in any of the regions.
Zhang Wenwei, chief of the Industry and Commerce Bureau under the Shanghai Municipal government, said the move would help boost economic integration in the delta.
Zhen Yumin, chief of the Industry and Commerce Bureau of Zhejiang provincial government, said equal market access would facilitate the free flow of capital, professionals, technology and property.
Zhen called for integration of information resources among the delta region and integration of regulation on market order for an eventual regional common market.
(Xinhua News Agency April 11, 2003)
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