China Redirects Foreign Money From Unclean To Green

Law360, New York (March 6, 2008, 12:00 AM EST) -- China, long the destination of basic manufacturing needs for the Western world, has now undertaken a drastic reform of its foreign direct investment policies to exclude the energy-intensive, “smokestack” industries it has become famous for.

On March 5, in a work report to the first session of the 11th National People's Congress, Premier Wen Jiabao emphasized that China was determined to withdraw itself as a global center for basic manufacturing.

“We will limit or ban foreign investment in projects that are energy-intensive or highly polluting, limit...
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