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People's Daily Online>>China Business

Foreign firms to face new challenges

By Zhao Qian (Global Times)

10:17, January 09, 2012

Foreign companies will meet new challenges in China this year, but their investment enthusiasm in the country will increase amid worries about a global slowdown, according to an official report Sunday.

Foreign companies will face new challenges like rising cost, inflation pressure, and renminbi appreciation, according to the annual China Enterprise Development Report released by the State Council's Development Research Center.

At the same time, foreign companies will also feel more pressures as China gradually ends the practice of "super-national treatment" under which foreign-invested enterprises had enjoyed more preferential policies than their Chinese counterparts since the beginning of the reform and opening-up, the report said.

The report also noted that problems related to the country's industrial safety have already caused alarm in the academic circles as more and more foreign companies entered into the Chinese market, which will continue to be more open to foreign investors.

If the output value of foreign enterprises reaches 30 percent of the total value of the industry in which they operate, the report defines such a sector as being at the edge of industrial safety. Based on this standard, 44.4 percent of the sectors in the industrial area have reached the cordon, according to the report.

"The competitive strength of Chinese companies is much stronger than before, and they could assume a leading position in some sectors closely related to industrial safety," Mei Xinyu from the International Trade and Economic Cooperation Research affiliated to the Ministry of Commerce told the Global Times yesterday.

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