No incentives for investing in controversial countries
2 March 2007
Chinese companies are set to lose the tax breaks and soft loans they receive from Beijing for investing in Iran, Sudan and Nigeria, the Financial Times reported. The National Development and Reform Commission excluded the three countries from a list of resource-rich nations the government is willing to help companies invest in. It is unclear whether this is because Chinese companies already have well established spending programs in these countries or for political reasons attached to nuclear issues and human rights abuses. Meanwhile, China called on Iran Thursday to stop its uranium enrichment program and make greater efforts to negotiate a peaceful solution to international concerns over the country's nuclear development, AP reported.