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Foreign capital "votes with their feet", "China's gravity" is strong (international discussion)

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Foreign capital "votes with their feet", "China's gravity" is strong (international discussion)

According to data recently released by the Ministry of Commerce of China, in the first 10 months of this year, the actual use of foreign capital in China was 1,089.86 billion yuan, a year-on-year increase of 14.4% on a comparable basis. The actual use of foreign capital in high-tech industries increased by 31.7%. In this regard, expert analysis believes that the momentum of steady growth in China's absorption of foreign investment has not changed, and the effectiveness of comprehensive measures to stabilize foreign investment continues to show.

Foreign media believe that in the context of the sluggish global cross-border investment, foreign capital "votes with their feet", which proves that China is still an attractive development hotspot.

Foreign investment casts a "vote of confidence"

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The China Council for the Promotion of International Trade recently released the "Research Report on China's Foreign Investment Business Environment in the Third Quarter of 2022", which shows that foreign-funded enterprises continue to be optimistic about the Chinese market, and many major investment institutions around the world have cast a "vote of confidence" in China. The scale of production business and the attraction of foreign capital continued to grow. Over 5% of foreign-funded enterprises indicated that they had increased their capital in China.

Tobias Prouss, CEO of German asset management company Allianz Investments, said in a recent interview with the media that now is a good time to make long-term investments in China.

Pross said that China is an important partner of Europe. Many European companies and individuals are investing in China, and many European cars and luxury goods are being imported into mainland China. "Our view on China's long-term economic growth has not changed. We expect China to continue to build capabilities in areas such as technology development, green energy transition and food security."

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The website of the US Consumer News and Business Channel quoted data from the Ministry of Commerce of China as saying that in the first eight months of this year, the growth rate of German investment in China was as high as 30%. Meanwhile, in the first seven months of this year, investment from the United States rose by about 36 percent, according to Chinese official data.

Germany's Neue Deutsche Zeitung reported that from July to September this year, the sales of German car company Mercedes-Benz in China increased by nearly 40%. Relevant surveys show that almost one out of every two companies in the German manufacturing industry said they were dependent on orders from China. China is not only a sales market and supplier, but also an important place for investment. About 2,300 large and small German companies have set up production, service and sales organizations in China. "Some German companies could even face bankruptcy in the event of an economic conflict with China," said the German Institute for Economic Research.

It's not just European companies that are bullish on China. The Australian news network found that despite the political factors and the challenges of the epidemic, small businesses across Australia still chose to turn to the Chinese market to survive. A report on the development of Australian SMEs in China released by the Australian Asia Union Business Center shows that there are still opportunities to enter the huge Chinese market. Some Australian business executives believe that, especially for those innovative companies, there are opportunities in the Chinese market, and these companies should turn their attention to outside Australia.

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The Australian recently published an article by John Key, the former Prime Minister of New Zealand, saying that he is optimistic about China, which is a fascinating place. Although some Western countries have viewed China as a threat in recent years, China remains a huge market for New Zealand businesses that could make New Zealand a stronger economy and a wealthier country.

The Chinese market is highly stable

In the context of repeated global epidemics and weak cross-border investment, why has the Chinese market always remained relatively attractive to foreign capital?

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The "Wall Street Journal" recently reported that since the outbreak, China's actual use of foreign capital has maintained a relatively high growth rate, mainly due to China's first control of the epidemic, continued economic recovery, and the government's measures to stabilize foreign investment.

This year, China implemented a new version of the negative list of foreign investment access in the country and the pilot free trade zone, further relaxing the market access of foreign investment; carrying out inspections on the law enforcement of foreign investment laws, and continuing to create a market-oriented, law-based, international business environment; implementing the "Encouraging Foreign Investment Industry Catalogue" (2022 edition)" to guide foreign capital to invest in advanced manufacturing, modern services and other fields and the central and western regions; successfully held the China International Import Expo, Service Trade Fair, Canton Fair, and Consumer Expo to build an international platform for open cooperation for countries around the world…

Spain's "Economist" published an article stating that China is currently one of the most dynamic and innovative countries in the world with a business environment. On the one hand, China has large technology companies that lead the world in innovation, which can rival the most important technology companies in the United States. On the other hand, China has an environment conducive to the development of many new technology companies. According to data from the Statista research company, the number of "unicorn" companies in China will be 301 in 2021, second only to the United States.

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The Australian News Network quoted Howard, CEO of Asia Business, as saying that China is the world's largest and most dynamic consumer market, and it is in a leading position in logistics and e-commerce innovation, and will accelerate its development. By 2030, China is expected to have about 400 million upper-middle-income and high-income households seeking access to quality products and services. Some companies will benefit from China. "If companies don't pay attention to and develop this market, they may really miss opportunities."

The Sri Lankan "Daily News" website quoted the Sri Lankan ambassador to China, Palita Kohona, as saying that new products in the country's agriculture, marine, industry and many other new fields hope to have new channels to enter the Chinese market. Because China is the largest consumer market in the world, the demand is huge. Sri Lanka can and should enter this market more effectively than it does now to reap more economic benefits.

"Exiting China will make us lose opportunities." The CEOs of eight large German multinational companies including Siemens, BASF, and Bosch recently jointly wrote in the German "Frankfurt Allgemeine Zeitung", "We firmly believe that China will maintain its basic growth momentum." China Daily believes that compared with other growth markets, the Chinese market is highly predictable and stable.

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Optimistic about China's economic resilience

Absorbing foreign capital is a window to observe a country's level of openness, and it is also a "barometer" that reflects a country's economic vitality. The "World Opening Report 2022" recently released by the 5th Hongqiao International Economic Forum shows that from 2012 to 2020, China's openness index has increased by 5.6%, becoming an important force to promote economic globalization.

"In the past 10 years, the rapid development of China's economy is obvious to all." Woodker, chairman of the European Union Chamber of Commerce in China, said that China's specific measures in improving the business environment and encouraging foreign investment have shown the international community that China continues to expand its opening up to the outside world. determination. At the same time, China's accelerated construction of a modern economic system will help China's economy achieve higher quality and more sustainable growth.

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Xie Shengwen, South Africa's ambassador to China, said in an interview with the media recently that openness is a distinctive symbol of contemporary China. At present, the world is entering a new period of turmoil and change. China firmly supports economic globalization and free trade, and actively creates a market-oriented, legalized and internationalized business environment. At the same time, China has successfully held a series of important international exhibitions such as the China International Import Expo and the Service Trade Fair in recent years, providing a platform for countries to share opportunities and expand cooperation. "Many enterprises in developing countries have used these platforms to explore the Chinese market, share in the dividends of China's economic development, and people in various countries have also gained tangible benefits."

The US Consumer News and Business Channel website quoted an official from the National Development and Reform Commission as saying that China's economy has shifted from a stage of high-speed growth to a stage of high-quality development, and foreign investment is also facing a new situation. Next, China will further expand the scope of encouraging foreign investment, and increase support for foreign investment in fields such as advanced manufacturing, modern service industry, high-tech, energy conservation and environmental protection. In addition, China will increase support for foreign investment in the central, western and northeastern regions.

Rong Jie, vice president of the German Henkel Group, said that the report of the 20th National Congress of the Communist Party of China proposed to promote high-level opening up. Steadily expand institutional opening-up such as rules, regulations, management, and standards. China's high-level opening up to the outside world will provide more opportunities for foreign companies in China. "We are optimistic about the resilience and development prospects of the Chinese economy."

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(Editors in charge: Ai Wen, Liu Yeting)

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