Photo: CFP

 
Foreign-funded enterprises operating in China saw their import and export volume reach 6.32 trillion yuan ($881.4 billion) in the first half of this year, up 2.4 percent year-on-year, marking the fifth consecutive quarter of foreign trade growth.

Despite the complex and volatile global trade situation, these enterprises remain committed to deepening their roots in China with unwavering confidence, Wang Lingjun, deputy head of the General Administration of Customs (GAC), told a press conference in Beijing on Monday.

Wang made the remarks in response to a question about foreign-funded enterprises' performance in imports and exports, amid some Western media reports claiming that foreign-funded enterprises in China lack confidence due to changes in the global economic and trade situation.

"Foreign enterprises have made positive contributions to China's economic growth and they are key participants in its foreign trade," Wang noted.

Many foreign enterprises have leveraged their technology edge alongside China's industrial support advantages, driving sustained growth in key export sectors, the official said. Among the major manufacturing industries involved in foreign enterprises' exports, sectors such as specialized equipment, electrical machinery, and electronic devices have all achieved robust export growth, the official said.

In recent years, encouraged by the policies to stabilize foreign investment, foreign enterprises have expanded their presence from single-region footprint to a more balanced, multi-regional layout across China. In the first half of this year, foreign enterprises accounted for 30 percent of the total imports and exports in eastern China, 25.1 percent in central and western regions, and 26.4 percent in northeastern China.

Foreign enterprises' "unwavering confidence" is evidenced by their growing recognition of China as an ideal, safe, and dynamic investment destination amid cascading volatilities in global market, Wang said.

In the first half of this year, the number of foreign enterprises engaged in imports and exports in China reached 75,000, the highest since 2021. 

Foreign enterprises have accelerated investment in production capacity, with the import of high-end equipment growing by 3.2 percent between January and June. Focusing on long-term development, foreign enterprises are boosting innovation and research and development (R&D). In the first six months, the bonded R&D goods imported by foreign enterprises surged by 52.1 percent, accounting for over 70 percent of the national total, according to the official.

"Amid rising global uncertainties, China's policy stability and long-term planning have become even more valuable. It is believed that an increasing number of foreign enterprises will achieve greater success and development in China," Wang said.