China Intensifies Efforts to Attract Foreign Investment, Multinational Companies Increasing Investment
Beijing, September 26th – China is making significant moves to attract foreign investment, with multinational companies increasing their investment in the country. These efforts are seen as crucial in promoting high-level opening up and building a new open economic system.
The Ministry of Commerce is set to launch the “Collection and Management System for Problem Complaints of Foreign-Invested Enterprises” at the end of September. This system will serve as a roundtable meeting for foreign-funded enterprises online, allowing them to report any problems encountered during project implementation and production and operation.
In addition, the 4th Qingdao Summit of Multinational Company Leaders, organized by the Ministry of Commerce and Shandong Province, will be held from October 10th to 12th. A total of 316 multinational companies have signed up for the summit, indicating their interest in further investment opportunities in China.
Furthermore, a symposium was recently held with foreign-funded financial institutions and foreign-funded enterprises to discuss ways to increase financial support to stabilize foreign trade and foreign investment while optimizing the foreign investment environment. Prominent foreign financial institutions and enterprises, including JPMorgan Chase Bank, HSBC, and Tesla, participated in the symposium.
To stabilize foreign trade and foreign investment, a national conference was held earlier this month. The meeting stressed the importance of implementing a “combination punch” of policy measures to help companies stabilize orders, expand markets, and optimize the foreign investment environment.
China has also issued the “Opinions on Further Optimizing the Foreign Investment Environment and Increasing Attraction of Foreign Investment”, which includes 24 targeted policies and measures to address concerns of foreign-invested enterprises.
The increased investment by multinational companies in China reflects their continued optimism about China’s economic prospects and the development potential of the Chinese market. Swire Coca-Cola, Siemens, BASF, and Volkswagen are among the companies that have announced significant investments in China recently.
Data from the British Chamber of Commerce in Shanghai also shows that British investment in China increased by 135.3% year-on-year in the first half of 2023, demonstrating the interest and commitment of British companies in the Chinese market.
Deng Stu, executive director of the British Chamber of Commerce in Shanghai, stated, “The increased investment by multinational companies in China reflects their continued optimism about China’s economic prospects and the development potential of the Chinese market.”
Chinese government’s efforts to optimize the business environment and stabilize foreign investment expectations have effectively attracted more foreign investment, providing development opportunities not only for these companies but also contributing to global cross-border investment stability.