Wenzhou gets approval for private investments abroad

David Nealis President of Blue Bridge

Wenzhou gets approval for private investments abroad The Chinese central government granted residents of the city of Wenzhou the ability to invest privately overseas and set up loan companies which is a landmark financial pilot project. Premier Wen Jiabao chaired a State Council executive meeting which chose Wenzhou, a coastal city in eastern Zhejiang province with a long tradition of entrepreneurship, to be a "pilot zone" for a series of financial reforms. The 12 major points of the move include developing privately-owned financial services, setting up village banks and rural financial cooperatives and encouraging lending by state-owned banks to smaller businesses.

China, the world’s 2nd largest economy, continues to be the most important market for companies looking for growth and Chinese companies continue to globalize by investing and selling their products in new markets; what is your company’s strategy for engaging China?

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