The skyline of Lujiazui in Shanghai Photo: CFP

Foreign-invested companies expressed optimism about China's economic growth prospects, consumption potential and investment opportunities, according to a recent survey conducted by the China Council for the Promotion of International Trade (CCPIT).

About 92.4 percent of more than 550 surveyed foreign companies said that China's role in their global investment landscape has not declined, said Wang Linjie, spokeswoman for CCPIT, on Wednesday during a regular press conference.

"Recently, a large number of senior executives of multinational companies have visited China, which demonstrates that China remains one of the most attractive investment destinations in the world," said Wang.

The attractiveness of Chinese market was also reflected by the increased presence and expanded businesses of foreign companies in China, which shows their optimism about the long-term growth prospects of the Chinese economy in the coming months.

According to statistics from the Ministry of Commerce, the actual use of foreign direct investment in China reached 408.45 billion yuan ($58.9 billion) in the first quarter of 2023, up 4.9 percent year-on-year.

During the period, investment from France increased by 635.5 percent, while investment from Germany grew by 60.8 percent. Meanwhile, more than 10,000 new foreign-invested enterprises were established, up 25.5 percent year-on-year.

In 2023, officials of CCPIT have met in Beijing with senior executives of more than 20 foreign companies, including Maersk, Tesla, DHL and Panasonic, covering agriculture, mining, finance, logistics, technology, new-energy vehicles and other industries, said the spokesperson.

Wang Linjie, spokeswoman for the China Council for the Promotion of International Trade (CCPIT) on April 26, 2023 Photo: CCPIT

Wang revealed that during the talks, relevant foreign companies expressed optimism about China's economic growth prospects, consumption potential and investment opportunities, and expressed their willingness to further strengthen exchanges and cooperation with Chinese enterprises, consolidate their businesses in China, and share development opportunities with the Chinese business community.

Up to now, the CCPIT special team serving foreign-fund companies in China has released 4,825 investment projects through the "Invest in China" platform, assisted local governments and industries to carry out 950 business visits, and accelerated the approval process of major projects for foreign enterprises, according to Wang.

Meanwhile, CCPIT actively helped Chinese companies go abroad. In the first quarter of 2023, Chinese enterprises reported that overseas exhibitions have achieved great results, according to a survey conducted by the CCPIT on 10,028 Chinese enterprises. 

Countries involved in the China-proposed Belt and Road Initiative became the most popular destinations for Chinese exhibitors, with 27.56 percent of the Chinese enterprises going to the United Arab Emirates, Indonesia, Malaysia, Russia and Thailand, said Wang.

Global Times