Foreign companies consider China an attractive market for investment under the background of the global transnational investment downturn, People’s Daily overseas edition reported on Monday (November 28).
Foreign companies continue to be optimistic about the Chinese market, as many major global investment institutions have cast a vote of confidence in China, the report stated, citing another report on China’s business environment for foreign companies in the third quarter of this year.
Nearly 80 per cent of foreign-invested companies have maintained their current production operations scale in China, whose attractiveness to foreign investment continues to grow.
More than five per cent of foreign-invested companies claimed they have increased investment in China, according to the report released by China Council for the Promotion of International Trade.
China is a global economic powerhouse, undoubtedly filled with potential, said Tobias Pross, CEO of Allianz Global Investors, according to Global Times.
In the first 10 months of this year, China’s actual utilised foreign investment amounted to 1.09 trillion yuan (US$151.42 billion), up 14.4 per cent year-on-year on a comparable basis.
BAROMETER OF ECONOMIC VITALITY
During the same period, the actual use of foreign capital in high-tech industries increased by 31.7 per cent, according to the Ministry of Commerce.
The reasons for the high growth are mainly the fact that China was the first to control the epidemic, sustain economic recovery and the government’s measures to stabilise foreign investment, according to the Wall Street Journal.
Attracting foreign investment is a window to observe a country’s level of opening-up and a barometer of a country’s economic vitality.
China’s opening-up index increased by 5.6 per cent from 2012 to 2020, making it an important force in promoting economic globalisation, according to the World Openness Report 2022, released at the fifth Hongqiao International Economic Forum in Shanghai.