Amid a flurry of global economic uncertainties caused by certain countries’ unilateral and protectionist measures, China remains an ideal and fertile ground for foreign investment, Li Chao, a spokesperson for the National Development and Reform Commission (NDRC), China's top economic planner, said in Beijing on Tuesday.
The spokesperson noted that stability and certainty are essential in bolstering investor confidence in China, adding that the NDRC will introduce a series of measures to attract and utilize foreign capital more effectively, and it will continue to create favorable conditions for multinational companies to invest and grow in China.
However, some countries’ unilateral and protectionist moves are forcing businesses to take sides and make choices that defy economic laws, causing major disruptions for the normal operations of multinational companies, the spokesperson said.
China will continue to welcome foreign investment and remain a fertile ground for foreign enterprises to invest and expand their business. “We call on relevant countries to return to the correct path of multilateralism and free trade as soon as possible to inject certainty into the global economy,” Li said.
Li noted that the imposition of tariffs and other measures by the US has significantly increased volatility in global cross-border investment, affecting the decisions for multinational companies, he noted, adding that NDRC is committed to creating a favorable environment for foreign enterprises to thrive in China.
Over the past 40 years, China has remained a firm advocate of reform and opening-up, making it an ideal and secure destination for foreign investment. Li emphasized that a stable, transparent, and predictable macro-policy environment is crucial for business operations.
While criticizing that the imposition of tariffs and other measures by the US has significantly increased global uncertainty which have affected investment decisions by multinational corporations, Li said that the NDRC is committed to creating a favorable environment for all foreign enterprises in China.
The official on Tuesday outlined new measures aimed at attracting and retaining foreign investment.
Li said that NDRC will explore and formulate policies to encourage foreign-invested enterprises to reinvest in the country as part of broader efforts to stabilize foreign investment. As these enterprises have grown rapidly in China, reinvestment has become an effective way for multinationals to expand their production.
“We will encourage foreign investors to increase their reinvestment in China by strengthening factor support, optimizing financial assistance, enhancing the convenience of reinvestment, and providing comprehensive service support for reinvestment projects,” Li said.
In addition, NDRC is also revising the catalog of the encouraged industries for foreign investment, aiming to channel investment into key sectors such as high-end manufacturing and the digital economy, Li said.
As part of its policy support, NDRC has established a dedicated working group to accelerate the implementation of major foreign investment projects. So far, it has supported 66 major foreign investment projects in eight batches, with a total investment of $97 billion. Among them, 33 projects have been fully or partially completed.
In the next phase, the NDRC will continue to leverage its role to provide green channels in planning, land use, marine use, environmental assessment, and energy consumption to expedite project implementation, Li said.
Efforts will also be made to ensure that foreign-invested enterprises equally benefit from China’s preferential policies and fully implement national treatment for foreign enterprises. The NDRC has established a "one-on-one" visiting mechanism for key foreign-invested enterprises to monitor their investment and operational development in China, Li said.
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