Foreign companies willing to actively participate in China’s high-quality development during coming 5 years: MOFCOM

Ling Ji, vice minister of commerce, delivers a speech at China Association of Enterprises with Foreign Investment New Year Reception held in Beijing on January 19, 2025. Photo: MOFCOM

China Association of Enterprises with Foreign Investment held a New Year reception party in Beijing on Monday, drawing more than 300 representatives from foreign embassies, chambers and businesses, the Ministry of Commerce (MOFCOM) said on Wednesday.

Ling Ji, vice minister of commerce, participated in the event and gave a speech. Ling said that during the 14th Five Year Plan period (2021-25), China attracted more than $700 billion in foreign investment, ranking first among developing countries, and foreign funded enterprises have played an important role in China's high-level opening up and high-quality development.

He noted that the certainty of China's rapid economic development, the certainty of China's policies on utilizing foreign investment, and the certainty of China's economic and trade relations with other countries and its commitment to upholding the multilateral trading system will provide foreign companies with stable expectations for operations in China.

Ling said that the proposals for the 15th Five Year Plan (2026-30) have outlined a blueprint for China's development over the next five years and also provided an "opportunity list" for foreign enterprises.

The vice minister expressed hope that foreign-funded companies will remain confident, continue to invest in China, expand their presence in the Chinese market, and share in the country's growth opportunities.

At the event, Sean Stein, president of the US-China Business Council, said that the US business community is willing to support China's high-quality development and expand areas of mutually beneficial cooperation.

Jens Eskelund, president of the European Union Chamber of Commerce in China, said that the European chamber and its member companies will continue to play a constructive role in promoting China's long-term sustainable development, according to the ministry.

And, representatives of foreign-funded enterprises attending the reception party expressed confidence in China's growth prospects, citing the strong vitality of the vast market and the ongoing improvement of business environment. They indicated their willingness to increase long-term investment in China and achieve mutually beneficial outcomes as part of China's high-quality development, said the MOFCOM.