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Chinese Premier Zhu Rongji has pledged the government will protect the rights and interests of Japanese investors according to the law.
During a visit to Kobe Monday, Zhu promised to look into the case of a Chinese trust firm that had failed to pay interest on Japanese Samurai bonds on time.
He said the Chinese Government would ensure foreign creditors and Chinese leasing and trust firms consult each other about debt payments.
"If Chinese companies cannot afford to pay their debts, they must apply to the People's Bank of China and court to be made bankrupt," Zhu said. "The Chinese Government will protect the rights and interests of foreign creditors according to the law."
Zhu said this particular case, where the Hainan International Trust and Investment Corporation has delayed paying interest, is a serious problem because it concerns ordinary Japanese people.
"We will press the company to work on the problem, at least to pay attention to the Samurai bond holders in a responsible manner," Zhu said at a press conference held at the Japanese National Press Club in Tokyo.
He said China's investment environment is on the whole quite good, which make it possible for the country to absorb more than US$40 billion annually, and that the nation was making every effort to improve the investment climate. Zhu also asked Japanese companies to be prudent in choosing business partners.
Debt payments and such problems have caught much public attention in Japan during the premier's visit.
(China Daily 10/17/2000)
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