China on Tuesday announced the establishment of the China Council for International Investment Promotion (CCIP), a national organization aimed at promoting international investment for both Chinese companies and foreigners.

Set up in Chengdu, capital of southwest China's Sichuan Province, the agency has now 137 members, including investment promotion organizations registered in China, financial institutions, investment companies and economists.

The CCIP serves as a national platform providing service for international investment through integrating investment promotion resources across the country, said Li Zhiqun, an official with the Ministry of Commerce.

The CCIP's business involves promoting foreign investment in China, overseas investment by Chinese companies and their participation in international economic and technological cooperation ventures.