Foreign capital continues to influx to China’s colossal market: FM

Source: Global Times Published: 2020/8/4 17:30:59

A worker examines stainless steel wire in Dalian, Northeast China's Liaoning Province. Nickle pig iron is an integral part of China's stainless steel supply chain. File photo: CFP



China has not and will not see large-scale foreign capital withdrawal, or relocation of industrial and supply chains, the Ministry of Foreign Affairs said on Tuesday, in response to foreign politicians' calling for supply chains to be moved out of China. 

Many foreign-funded enterprises are actually accelerating their deployment in China, and actively expanding their operations in Chinese market due to the stable expectations of China's economic recovery, the continuously improving business environment, the colossal market size, and the potential of China's domestic demand, Foreign Ministry spokesperson Wang Wenbin told reporters on Tuesday. 

Since the outbreak of COVID-19, China has taken the lead in controlling the epidemic and has since fully reopened its economy.  

According to data released by the National Bureau of Statistics of China, China's economy achieved 3.2 percent growth in the second quarter, making it the world's first major economy to turn from negative growth to positive.  

In July, the Purchasing Managers Index (PMI) of China's manufacturing industry was 51.1, staying above the line of expansion for five consecutive months.

A recent survey of 150 firms by the US-China Business Council showed that US companies are still confident in the Chinese market as China is accelerating its opening-up and optimizing business environment.

According to a recent survey conducted by the Ministry of Commerce (MOFCOM), 99.1 percent of foreign-funded enterprises said they would continue to invest and operate in China.

Although the Trump government has pressured some companies from certain developed economies to cease operations in China, and tried to build an industrial and supply chain without China, foreign direct investment from the US continued to flow into China, rising 6 percent year-on-year in the first half of 2020, according to MOFCOM.

Preparations are in full swing for the third China International Import Expo (CIIE), which will kick off in Shanghai in November with an exhibition area of over 360,000 square meters, and special committees set up for public health and epidemic prevention. The average exhibition area of the world's top 500 and industry-leading companies will increase by 14 percent compared to the last Expo. 

China will continue to unswervingly expand its opening-up to the world, and the door of opening-up will continue to open wider, and the country believes that the cake of win-win cooperation between China and the world will grow bigger and bigger, the spokesperson said. 



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