CGTN: Foreign capital positive on Chinese market
PR98603
BEIJING, Nov. 3, 2022 /PRNewswire=KYODO JBN/ --
The majority of foreign-funded enterprises remain positive on the Chinese
market, as China has vast opportunities in the coming years with unremitting
opening-up efforts, an improved business environment and a bright market growth
outlook.
The successful conclusion of the 20th National Congress of the Communist Party
of China has further boosted foreign enterprises' confidence in the market,
according to a survey released on October 27 by the China Council for the
Promotion of International Trade (CCPIT).
Among the more than 500 foreign enterprises surveyed, 96.7 percent affirmed
China's development achievements over the past decade and 96.9 percent
expressed stronger confidence in the Chinese market.
China has been striving to create new opportunities for the world through its
own development. The China International Import Expo (CIIE) is such a move to
actively open the Chinese market to the world.
This year's CIIE has attracted 284 Fortune Global 500 and industry-leading
companies. Nearly 90 percent of Fortune Global 500 and industry-leading
companies who attended last year's event are returning this year. Rio Tinto,
BHP Group, ThyssenKrupp and Gilead Sciences are among the Fortune Global 500
companies making their CIIE debut.
Attractive Chinese market
Such uplifting sentiment among foreign businesses was also reflected in China's
foreign direct investment (FDI) figures. In the first nine months of 2022,
China's FDI inflow in actual use topped $155.3 billion, a year-on-year increase
of 18.9 percent, data from the Ministry of Commerce (MOFCOM) showed.
From January to September, investment from Germany jumped 114.3 percent on an
annual basis, while investment from South Korea surged 90.7 percent, from Japan
39.5 percent and the UK 22.3 percent, according to MOFCOM.
China is leading the world in foreign capital inflows. Its global share of FDI
in the first quarter (Q1) of 2022 was 19.5 percent, ranking first in the world,
according to the Organization for Economic Cooperation and Development.
Improving business environment
In Q1, roughly 90 percent of foreign-funded enterprises were satisfied with
China's policies concerning market access, promotion of market competition,
access to business premises and financial services.
A separate survey released by the CCPIT on October 27 showed that nearly 80
percent of foreign firms surveyed have maintained their current scale of
production and business in China, while more than 5 percent have expanded
investment as they prioritize strategic development in China.
SOURCE CGTN
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