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China to stabilize foreign capital and expand opening up (3)

(People's Daily Online)    17:05, August 14, 2018

China expands opening up through stabilizing foreign investment

Earlier this month, Pepsi announced an extra $100 million in investment in China and the planned expansion of its factory in Shanghai. “China is one of the largest markets for our development. We are optimistic about the Chinese market and we choose to increase investment here based on analysis of the Chinese economy and market demand,” said the person in charge of Pepsi’s Greater China Region.

China's economic development over the past 40 years was achieved by opening up, and to achieve high-quality development the country has to open up wider to the world, said Bai Ming. Foreign capital plays an active and important role in promoting economic growth and deepening reform, and it will inject more impetus into China’s economic structural upgrading, coordinated development and technological innovation.

China has proposed policies to relax market access, create a more attractive environment for investment and strengthen intellectual protection. Implementing these policies as early as possible will guarantee that more investment will flow in China and create a new pattern closely linked with reform.

The Chinese measures to expand opening up has provided business opportunities for foreign companies and helped them gain profits. China’s strong composure for expanding opening up has boosted the willingness and confidence of foreign companies to enter the Chinese market.

According to the 2018 Business Climate Survey Report, released by the American Chamber of Commerce in China, more than 60 percent of surveyed American enterprises put China on their top three investment destinations and one-third of them expressed their plans to increase investment in China by more than 10 percent.

According to the latest business confidence survey issued by the European Chamber of Commerce, more than half of European companies are planning to expand their businesses in China. A report by the Japan Bank for International Cooperation indicated that China was voted as the most promising place for business development by multinational corporations in the manufacturing industry of Japan.

Zhan Xiaoning, an official in charge of investment and enterprises under the United Nations Conference on Trade and Development, said China has unveiled a list of measures to promote trade facilitation. In the future, the size of foreign direct investment in China will remain large. “China is relaxing market access, optimizing its business environment and improving service levels,” said Sang.

China holds large market potential, said spokesperson Gao Feng of the Chinese Ministry of Commerce. The country’s improving business climate and growing industrial capacity are also globally competitive, Gao said, adding that China is confident it can achieve high-quality development in the utilization of foreign investment and remain a hotbed for foreign investment. 


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