Opportunities for foreign enterprises increasing
China's unwavering efforts to expand high-level opening-up in the digital economy and green development will create more growth opportunities for foreign enterprises, according to government officials and business leaders on Thursday.
This will inject important impetus into international free trade and investment, which are facing headwinds from the pandemic and geopolitical issues, they said.
The remarks were made at the ongoing 22nd China International Fair for Investment and Trade, which officially kicked off on Thursday and will run through Sunday in Xiamen, Fujian province. The fair's theme this year is "Global development: sharing digital opportunities, investing in green future".
"In pursuit of the new dual-circulation development, China will increase investments in scientific and technological innovations and bolster the integration of digital technology development and economic and social development," said Zhang Chunxian, vice-chairman of the Standing Committee of the National People's Congress, China's top legislature, at the fair's opening ceremony on Thursday morning. Under the dual-circulation paradigm, the domestic market is the mainstay and the domestic and foreign markets reinforce each other.
The nation will also experiment to expand market access in new business forms of the digital economy and strengthen international cooperation in the digital sector, which will provide broader market space for multinational companies investing in China, he added.
Zhang also said that China offers great development opportunities in the green energy and industrial investment sectors, and the nation always encourages increased foreign investment in such areas as energy saving, environmental protection and green and low-carbon development.
In China, the world's second-largest economy, the actual use of foreign capital surged 17.3 percent year-on-year to 798.33 billion yuan ($114.8 billion) in the first seven months of the year.
The number of newly established foreign enterprises expanded by 23.5 percent year-on-year to 48,000 in 2021.
That came amid a struggling world economy, and analysts said foreign investors' confidence in China is underpinned by its continuous high-level opening-up and economic upgrades as the nation pursues high-quality development.
Guo Tingting, assistant minister of commerce, said China's sound performance in foreign trade, foreign direct investment and outbound direct investment is a reflection of the Chinese economy's strong resilience.
The nation will continuously improve economic and trade cooperation with other countries to create more development space for enterprises of all countries, she said.
Wang Jie, vice-president of Schneider Electric, a French multinational, said the company sees great development opportunities in China, its second-largest market, as the nation accelerates industrial digitalization and pays increasing attention to sustainable development.
The company is willing to work together with its partners to jointly tap market opportunities presented by digitalization and tap the potential of green development, said Wang, who is also head of the corporate affairs and sustainability development division at Schneider Electric China.
Shu Jueting, spokeswoman for the Ministry of Commerce, said at a news conference in Beijing on Thursday that the ministry and relevant authorities have established mechanisms to improve services for foreign investors and promote early implementation of major foreign investment projects.
