China welcomes more foreign companies to invest and contribute to domestic economy
Published: Jul 29, 2020 01:24 AM

Logos of foreign banks on an office building in Beijing’s Financial Street File Photo: IC

China will continue fostering a market-oriented and world-class business environment governed by a sound legal framework, and welcome more foreign businesses to invest and operate in China, Foreign Ministry spokesperson Wang Wenbin said at a regular press conference on Tuesday.

Wang made the comment in regard to a World Bank report discussing China's experience in improving its business environment. The World Bank's Doing Business Report 2020 ranks China 31st, up from the 78th place two years ago.

Wang said China's economy grew by 3.2 percent in the second quarter, becoming the world's first major economy to reverse a contraction in wake of the COVID-19 pandemic.

Wang noted that the global economic and financial community holds a positive view of China's long-term growth prospects and the US business community expressed similar views recently. They welcome more reform and opening-up measures rolled out by the Chinese government, he said.

"We welcome more foreign businesses to invest and operate in China. By contributing to a vibrant Chinese economy through facilitating unfettered flow of all elements, they will also inject new impetus into world economic recovery," Wang said.