SCIO press conference on China's commerce development in 2021
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E-mail China.org.cn, January 27, 2022
China News Service:
In 2021, China hit another record high on its scale of foreign investment. What are the prospects for this year? The Central Economic Work Conference proposed that national treatment should be implemented to foreign-invested enterprises to attract more investment from multinational corporations. What new measures will the Ministry of Commerce take in this regard? Thank you.
Chen Chunjiang:
Thank you for your question; I'll answer it. The world is experiencing the combined impacts of major changes and a pandemic unseen in a century. And the external environment has become more complicated. The work of stabilizing foreign investment still faces significant challenges. The United Nations Conference on Trade and Development (UNCTAD) predicts that it will be difficult to achieve rapid growth on global cross-border investment this year. The restructuring of the international industrial chain has become more nearshore, localized, and regional, and the competition for attracting investment among countries has intensified. In addition, the global epidemic has continuously affected cross-border investment promotion activities. At the same time, domestic enterprises have also been facing the pressure of rising prices for labor, land, and raw materials.
Despite these challenges, we possess the strong leadership of the Central Committee of the Communist Party of China with Comrade Xi Jinping at its core. We have the advantages of the socialist system with Chinese characteristics. We have maintained a leading global position in economic development and Covid-19 response. We also enjoy favorable conditions, such as a complete system of industries, improved infrastructure, and abundant human resources. And there are many super-large markets to attract foreign investment. Therefore, foreign investment in China is generally expected to be good. Reports from major foreign chambers of commerce show that China has still been one of the major investment destinations for multinational corporations. For example, the German Chamber of Commerce in China just released the 'business confidence survey 2021/22' last week. Its results show that German companies in China have confidence in the growth of the Chinese market. And 71% of companies plan to continue to increase investment in China. So, in general, we are confident we will maintain stable foreign investment in 2022.
We will fully implement the principles of the Central Economic Work Conference, adhere to the general principle of pursuing progress while ensuring stability, and focus on 'stabilizing the overall performance of foreign trade and foreign investment.' Also, we will follow the requirements of the National Business Work Conference, focus on maintaining the existing stock, explore increments, and optimize the structure. We will focus our work on the following six areas.
First, we will make continued efforts to open China to the outside world at a higher level. We should fully implement the national negative list and pilot FTZ negative list for foreign investment (2021 Edition) to ensure that the opening-up measures in automobile manufacturing and other sectors are taken effectively to attract more multinational companies to invest in China.
Second, we will ramp up efforts to improve support policies. For example, we have revised the industry catalog to boost foreign investment and fully leveraged the effect of preferential policies such as land and tax policies. This will lead to more foreign investment in sectors like advanced manufacturing, modern services, high and new technology, green and low-carbon and the digital economy, and also in China's central and western regions.
Third, we will continuously improve services. We will improve the mechanism of special working groups for key foreign-funded projects, respond quickly to and solve problems encountered by foreign-funded companies in a timely manner, and provide services to ensure the stable operation of the companies. We will ensure services for key foreign-funded projects in land, energy, environmental protection, and personnel entry and exit so as to promote the early signing, production, and fulfillment of projects.
Fourth, we will continuously leverage the role of platforms. We will make use of open platforms such as pilot FTZs, free trade ports, and comprehensive demonstration zones for expanding opening up in the service sector, align them with high-standard international economic and trade rules, and accelerate institution-based opening-up. We will implement the new assessment and evaluation methods for national economic development zones, vigorously develop an open economy, and make them major platforms for stabilizing foreign trade and foreign investment.
Fifth, we will continuously promote investment. We will run a successful 22nd China International Fair for Investment and Trade, hold various forms of investment promotion activities, and promote foreign-funded projects to communicate in key industries. We will organize multinational companies to go on trips around China so as to better support localities in attracting investment.
Sixth, we will continuously improve the business environment. We will effectively implement the Foreign Investment Law and the regulations for its implementation, and continuously improve supporting rules. We will make full use of the mechanism for handling complaints by foreign-funded companies, better protect the legitimate rights and interests of foreign investors, and ensure the national treatment of foreign-funded enterprises. We will strive to create an even better business environment and make China a popular destination for foreign investment.
That is all I have for it. Thank you.
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