CHINA DEVELOPMENT CO

closed

The China Development Corporation Project in China will assist in the creation, expansion and modernization of private industrial enterprises by granting medium and long-term loans, by taking temporary equity participations, by floating or underwriting corporate bonds, by encouraging private investors (local and foreign) to participate in such financing, and by providing technical assistance to Chinese industrialists. To achieve the goals of this "accelerated growth program" the Government has taken steps to improve the climate for private investment. These include revision of tax and land laws, the rationalization of trade and exchange regulations, and the provision of management and technical assistance. Such assistance is especially important as the volume of exports increases and foreign competition becomes more intense.