BEIJING, March 7, 2024 /PRNewswire/ — News report from China.org.cn on foreign investment in China:
At of China “Two sessions” into 2024, the country set a GDP target of “around 5 percent” and highlighted the development of “new quality productive forces” as well as the drive to open up with higher standards, a gesture that sends positive signals.
Tim CookCEO of Apple Inc., said he “remains optimistic China in the long term.”
There are statistics that support Cook’s attitude: In January 20244,588 new companies with foreign investments were created in 2008 China, which is an increase of 74.4% year-on-year. The amount of foreign investments actually used increased by 20.4% per month. These figures proved that despite all the uncertainty in the global economy, China remains an attractive destination for foreign investment.
In addition to the significant size, the structure of foreign investment in China is also optimized.
The ratio of foreign investment in high-tech areas is improving, and more projects featuring industry-leading technology and innovation are emerging. In recent years, a number of multinational corporations, including BASF, ExxonMobil and Siemens, have established centers of scientific and technological innovation and development in Guangdong province, China. in Jiangsu province, many foreign-invested companies have reinvested their retained earnings (non-repatriated) in the Chinapaying attention to high-tech industries such as photovoltaic products, special purpose ships, automobile manufacturing and electronic component manufacturing.
The significant amount of foreign investment with an improved structure in China is the result of constant and effective policies carried out by the country. in August 2023, China issued a 24-point guideline containing 59 specific measures designed to improve the climate for foreign investment. In the six months since its launch, more than 60% of the measures have been implemented or are in the process of being implemented.
Jens EskelundPresident of the Chamber of Commerce of the European Union in Chinabelieves that the “24-point guidelines” have brought benefits to companies with EU investments in the form of tax incentives, helped solve visa problems for EU staff coming to China, facilitated the cross-border flow of data and ensured a level playing field for companies to participate in government procurement. AmCham China (American Chamber of Commerce in China) recently published a “China Business Climate Survey Report” in which many American companies expressed their recognition of of China economic performance and improved business environment, somehow consolidating the confidence of multinational companies to invest in China not only for now, but also in the long term. Not long into 2024, many foreign-invested projects have closed deals or officially started construction, embodying the passion of foreign companies to maintain their investment in China.
This year’s government performance report clearly states that “we will strengthen efforts to attract foreign investment” and that market access restrictions will be further removed and services will be strengthened for foreign investors, China preferred destination for foreign investment. New policies are in the works to maintain the stability of foreign investment, which are sure to unleash more impetus for China to become a magnet for foreign investment.
There are indeed flaws in the of China economic performance at the moment, such as a slowdown in GDP growth and changes in the total volume of foreign investment. Various factors have caused these problems, including the complexity of the global economic landscape, the cyclical development of of China adjusting the economic structure and competition between major countries. The so-called “of China the economy is peaking’ is not an objective description of of China development. If one is misled by such noises, one will only miss opportunities.
2024 is a year of action. Policies will be implemented to maintain stable foreign investment, foreign trade and the economy as a whole. The reliable and vibrant business environment in China will provide more opportunities for foreign investors.
Chinese mosaic
http://www.china.org.cn/video/node_7230027.htm
China attracts foreign investments, in a stable amount with an optimized structure
http://www.china.org.cn/video/2024-03/07/content_117046076.htm
View original content for multimedia download: https://www.prnewswire.com/news-releases/china-is-attracting-foreign-investment-in-stable-amount-under-an-optimized-structure-302083650.html
SOURCE China.org.cn
