CNBC:

The U.S. and European chambers of commerce in China have spoken frequently about how the inability of global executives to enter the country has reduced interest in investment in China and even negatively impacted such investment. Under China's new and current development plan, what is the thought on promoting investment in China and encouraging new projects? Thank you.

Zhao Chenxin:

Since the beginning of this year, China has overcome various difficulties in attracting foreign investment in the context of repeated outbreaks of the pandemic globally, the complex and severe international situation and weak transnational investment. We have made significant achievements in pursuing growth and improving quality while maintaining stability. In the first eight months of 2022, China utilized 892.74 billion yuan of foreign investment, up 16.4% year on year on a comparable basis. Among this, foreign investment in high-tech industries increased by 33.6% year on year, while the eastern, central and western regions rose by 14.3%, 27.6% and 43%, respectively. The industrial structure and regional distribution of foreign investment continued to improve. In general, multinational companies have confidence in investing in China and are optimistic about the Chinese market in the long run.

At present, China's economy is transitioning from a phase of rapid growth to a stage of high-quality development. We are also facing new situations in attracting foreign investment. In accordance with the decisions and arrangements of the CPC Central Committee, we will work with relevant departments to promote higher-level opening up, put in place more supporting policies to attract foreign investment, and give more play to the positive role of foreign investment in promoting high-quality development as well as in facilitating positive interplay between domestic and international economic flows.

First, we will further encourage foreign investment. Foreign investment will be further expanded after the release of the 2022 edition of the Catalogue of Industries for Foreign Investment. More support will also be given to the areas of the advanced manufacturing sector, modern service industry, high and new technology, energy conservation and environmental protection, as well as the central, western and northeastern regions, thus creating a more favorable policy environment for foreign investment. We will introduce policies and measures focused on ensuring growth, stable performance and better quality of foreign investment in the manufacturing industry. We will make greater efforts to attract more investment in the manufacturing sector, solve the prominent problems facing foreign-invested enterprises, comprehensively strengthen the promotion and services of foreign investment and advance high-quality utilization of foreign investment.

Second, we will accelerate the launching of major foreign-funded projects. We will release the sixth batch of major foreign-funded projects, and provide them with the policy support of the central government in terms of industrial planning, land use, environmental impact assessments and energy consumption. In this way, they will be implemented at an early date. We will coordinate in a timely manner and solve the difficulties faced by foreign-funded projects in investment, production and operation to ensure their smooth implementation.

Third, we will further improve services for foreign-funded enterprises. You mentioned the American Chamber of Commerce in China (AmCham China) and the European Union Chamber of Commerce in China (EUCCC) in your question. We will more actively publicize relevant policies and measures to foreign enterprises, so as to build an investment and cooperation platform for enterprises and local governments through various methods. We will continue to improve the business environment, implement the system for foreign investment management based on pre-establishment national treatment and negative list, and work with relevant departments and local authorities to provide greater convenience for global investment exchanges and cooperation on the premise of COVID-19 prevention and control.

Yesterday, General Secretary Xi Jinping proposed in the report to the 20th CPC National Congress that we should promote high-standard opening up and steadily expand institutional opening up with regard to rules, regulations, management and standards. We are deeply aware that opening up remains China's fundamental state policy and its hallmark. As for China, we will not change our resolve to open wider at a high standard; we will not change our determination to share development opportunities with the rest of the world; and we will not change our commitment to an economic globalization that is more open, inclusive, balanced and beneficial for all. In the future, the door of China will open still wider to the world, and China's development will provide more opportunities for and inject strong impetus into the region and the wider world. We will earnestly implement General Secretary Xi Jinping's keynote speeches and instructions, and continue to create a sound policy and institutional environment, thus creating more opportunities and convenience for the development of foreign-funded enterprises. We have many foreign journalists here, and I hope they can understand and help express our wish to welcome enterprises from across the globe to invest and do business in China and continue to share China's development dividend. Thank you.

Related

Go to Forum >>0 Comment(s)