The Ministry of Commerce (MOC) will boost the development of central China with new measures to encourage investment, said Minister of Commerce Bo Xilai on Tuesday.

Bo made the comments at the forum on attracting investment to west and central China at the First Central China Trade and Investment Expo (CCTIE) in Changsha, capital of central China's Hunan Province.

The MOC plans to attract 10,000 enterprises from overseas and the coastal region of China to invest in central and west China in three years.

To reach this goal, the MOC would promote the five 'abilities' of central China: the ability to conduct international cooperation; to accept industrial transfers; to innovate brands; to develop modern logistics; and to 'go out' overseas.

The CCTIE was one of a series of measures in the campaign and was expected to be a platform for cooperation between domestic and foreign businessmen, said Bo.

The expo will be held annually in the six central provinces Hunan, Hubei, Henan, Anhui, Shanxi and Jiangxi by turn.

The ministry, with other government departments, would issue new policies to attract investment from overseas and coastal China, and select areas of competitive advantage as new bases for processing trade, he said.

The MOC would encourage the six provinces to create 'famous brands for export' and support the revitalization of traditional brands.

Bo said the ministry would establish a public information service to accelerate investment and logistics development in central and west China, focusing on the development of electronic businesses, modern logistics and chain operations.

Source: People's Daily