Vice Premier Wu Yi Friday called on multinationals to strengthen their cooperation on technological innovation with local partners.

"We hope the multinational companies will build more high-level research and development centers in China and establish technological cooperation alliances with leading local firms," Wu said while presiding a panel meeting with delegates from 70 multinationals in Xiamen, southeast coastal province of Fujian.

China also hopes the transnational corporations can adjust and improve their investment strategies in line with China's general targets on economic and social development and increase their investment in the high-tech and high-end services industries, she stated.

"The Chinese government will actively explore new ways for foreign and overseas investment so as to participate in the international economic cooperation on higher levels and in broader fields."

"The government will improve policies to encourage foreign firms to invest in the west, northeast and Tianjin Binhai New Area," Wu said.

The vice premier added, "We will also support oversea investment by Chinese businesses and encourage them to carry out cooperation with foreign peers in this regard."

(Xinhua News Agency September 8, 2007)