China's pro-foreign investment measures strengthen investor confidence

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China's 24 pro-foreign investment measures have further strengthened the investment confidence of foreign-funded enterprises, a commerce ministry spokesperson said on Thursday.

Spokesperson He Yadong said at a regular press conference that the ministry held a special roundtable on the implementation of the 24 pro-foreign investment measures on Wednesday.

Representatives of more than 60 foreign-funded enterprises and nine foreign business associations attended the meeting, said He. At the meeting, the ministry briefed on the implementation of the 24 measures issued and implemented more than half a year ago by various departments.

Representatives of foreign-funded enterprises and foreign business associations at the meeting shared on the situation that benefited from the relevant policies and put forward opinions and suggestions, He said.

The European Union Chamber of Commerce in China said that the 24 measures are of great significance and exciting to European enterprises, and the implementation of relevant policies is worthy of affirmation.

The Japanese Chamber of Commerce and Industry in China said that the latest survey shows that the business conditions of Japanese companies in China have improved, and most Japanese companies still regard China as an important market and are generally satisfied with the business environment in China.

The American Chamber of Commerce in China and the Korea Chamber of Commerce in China said that U.S. and Korean companies in China have stable expectations of investing and operating in China this year.

On the whole, more than 60 percent of the measures have been implemented or made positive progress, and the vast majority of foreign-funded enterprises said their confidence in investing in China was further enhanced, according to He.

In the next step, the ministry will continue to promote the implementation of the 24 specific measures, give full play to the role of the roundtable meeting for foreign-funded enterprises, and continue to optimize the business environment, He said.

In the guidelines outlined by the State Council in mid-August 2023, 24 specific measures in six areas were put forward to further optimize the foreign investment environment and intensify efforts to attract foreign investment, including guaranteeing national treatment for foreign-funded enterprises, increasing financial and tax support, and fostering a world-class business environment that is market-oriented, law-based and internationalized.

At the roundtable, the ministry also vowed joint efforts with related departments and local governments, to listen to opinions and suggestions of foreign-funded firms, and to constantly improve the work so that foreign investors can further benefit from the policy.

At a forum held by the Center for China and Globalization (CCG) in Beijing on Tuesday, Lu Yiqing, a senior manager of government affairs with Knorr-Bremse AG, expressed excitement at the 24 specific measures.

"The 24 measures are being transferred from paper into concrete action, which is a very good signal for us and deepens our confidence in further development in China," said Lu.

At the forum, Mike Liu, vice president of the CCG, highlighted the importance of "know-how," wholeheartedness and localization strategy for foreign-funded enterprises in China.

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