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Top US businessman urges foreign investment in China ( 2003-06-27 10:36) (Xinhua)
Maurice R. Greenberg arrived in Shanghai on Wednesday evening. As an honorary citizen of the city, the chairman and CEO of American International Group, Inc., has always referred to Shanghai as another hometown. "I want very much for the world to know that I've returned to Shanghai at the moment. I would like to demonstrate to the world that SARS will not thwart China's rapid economic development, and it is still the right choice to invest in China," he said. Greenberg has just been elected by the US-based Business Weekly as one of the world's top 25 businessmen. But in Shanghai, he is better known as one of the founders of Shanghai mayor's council of international advisers, and a big investor in the city. While meeting with Chen Liangyu, secretary of the Shanghai municipal committee of the Communist Party of China, and city Mayor Han Zheng, he said he felt quite at ease whenever he arrived in Shanghai. "I should be here to show my support and congratulation at a time when Shanghai has overcome SARS and its economy is recovering. " Seventy-eight-year-old Greenberg has always been noted for his preciseness and strategic insights. He arrived in China leading a US insurance delegation as early as 1975, and advocated the unconditioned prolonging of most-favored-nation (MFN) status to China even when the two countries were not on good terms. Chen and Han briefed Greenberg on the city's SARS prevention and treatment. They said its economic growth is expected to exceed 11 percent in the first half of this year. Greenberg said the Shanghai people are always capable of overcoming difficulties, believing what still lingers is but psychological problems. He pledged efforts to inform more foreign investors of Shanghai and China's achievements in SARS prevention. He recalled that when he was invited by then Shanghai Mayor Zhu Rongji in 1989 to form a council of international advisers, the city had no clear idea of its future development, and Pudong, now a new downtown area, was still but a stretch of farmland. The fact demonstrates that the Shanghai people are capable of all sorts of miracles and its development rate is unparalleled. As one of the world's top 500 companies, his group's business in China has grown along with Shanghai, and has begun to reap profits. Compared with other multinationals, the company's development in China is taking the lead. "If I could live my life once again, I would choose Shanghai," he said. At a press conference after the meeting, Greenberg stressed once more that SARS will not alter foreign investors' judgment on China's prospects and foreign capital's flow into the country. He said an overview of the world would show that there are not too many promising places worth investing in the world, but China is very attractive. "After China's accession to the World Trade Organization, better legal and investment environment will guarantee foreign investors even more fair competition. Although it takes time to restore the country's image after SARS, I believe more investors will come to China." He said. Enditem nnnn Top US businessman urges foreign investment in China (2) Greenberg said the Shanghai people are always capable of overcoming difficulties, believing what still lingers is but psychological problems. He pledged efforts to inform more foreign investors of Shanghai and China's achievements in SARS prevention. He recalled that when he was invited by then Shanghai Mayor Zhu Rongji in 1989 to form a council of international advisers, the city had no clear idea of its future development, and Pudong, now a new downtown area, was still but a stretch of farmland. The fact demonstrates that the Shanghai people are capable of all sorts of miracles and its development rate is unparalleled. As one of the world's top 500 companies, his group's business in China has grown along with Shanghai, and has begun to reap profits. Compared with other multinationals, the company's development in China is taking the lead. "If I could live my life once again, I would choose Shanghai," he said. At a press conference after the meeting, Greenberg stressed once more that SARS will not alter foreign investors' judgment on China's prospects and foreign capital's flow into the country. He said an overview of the world would show that there are not too many promising places worth investing in the world, but China is very attractive. "After China's accession to the World Trade Organization, better legal and investment environment will guarantee foreign investors even more fair competition. Although it takes time to restore the country's image after SARS, I believe more investors will come to China." He said.
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