(Yicai Global) March 13 -- China's foreign capital inflows reached a record high last year, indicating that China remains a highly attractive destination for foreign investment and the country welcomes everyone to come to invest and prosper, the new premier said at a press conference today.
China’s actual utilization of foreign capital topped USD189 billion in 2022, nearly USD50 billion more than three years ago before the pandemic, Li Qiang said, responding to questions about how some foreign enterprises have been finding it difficult to operate stably in the country and are considering withdrawing.
"Opening up is the basic national policy of China. No matter how the external situation changes, we will move forward in a steadfast manner," he said. China's open door to the outside world will only get bigger, with a better business environment and services, he added.
For instance, the China International Import Expo, a portal for overseas companies to access the Chinese market, has been held in Shanghai for five consecutive years without interruption, even during the pandemic, Li said.
“I'm honored to have attended all five Expos," he said, "If memory serves me right, last year there were 127 countries and regions and more than 2,800 companies exhibiting over an area as large as 350,000 square meters."
The holding of the CIIE fully illustrates that the large and inclusive Chinese market offers great opportunities for the development of businesses around the world, Li said. This year we will also adopt high international economic and trade standards to open up further.
China's actual use of foreign investment jumped 14.5 percent in January from the same period last year to CNY127.69 billion (USD18.5 billion). The actual use of foreign investment in manufacturing soared 40.4 percent, and that in high-tech industries surged 62.8 percent.
Over 90 percent of US firms that participated in a recent survey said they regard China as one of the world’s most important investment destinations, according to a white paper on the business environment in China compiled by the American Chamber of Commerce in South China and released last month.
Some 80 percent made re-investments in China last year and 68 percent said they will continue to expand their footprint in the China market, the report said. No companies have completely withdrawn.
Editor: Kim Taylor