November 29, 2022
BEIJING – 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.
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 said citing another report on China’s business environment for foreign companies in the third quarter of this year.
Nearly 80 percent of foreign-invested companies have maintained their current production operations scale in China, whose attractiveness to foreign investment continue to grow.
Over five percent 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 utilized foreign investment amounted to 1.09 trillion yuan ($151.42 billion), up 14.4 percent year-on-year on a comparable basis.
During the same period, the actual use of foreign capital in high-tech industries increased by 31.7 percent, according to 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 stabilize foreign investment, according to 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 percent from 2012 to 2020, becoming an important force in promoting economic globalization, according to the World Openness Report 2022 released at the fifth Hongqiao International Economic Forum in Shanghai.