An official from the Wuhan Administrator for Industry and Commerce said Monday that the city has recently, been issuing new policies in attempts to attract foreign investors.

The foreign firms in modern service and high-tech industries, solely owned by foreign companies or controlled by foreign firms will be authorized to use "China" in their registered names if their registered capital reaches 30 million yuan ($4.4 million). Previously, the requirement was of 50 million yuan ($7.35 million), but the government has become more flexible in order to attract investors and optimize the investment structure.

The city is also relaxing its policies in a tentative to transform the city and attract a shower of investments. The government is also allowing investors to use industry terms such as "logistics" and "trade" in their names to increase influence.

Procedures for investments in the city have also been less bureaucratic.

High-end manufacturing, research and polytechnology services as well as business services in the city have increasingly become popular investment destinations, said local media reports.

In the first quarter of 2010, of the 29 firms newly-established with foreign capital, 24 belong to the tertiary industry , making up 82.8 percent of the 29.