Foreign companies’ contribution

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Data from the Ministry of Commerce show that in the first 11 months of 2023, China’s actual use of foreign investment reached 1.04 trillion yuan, and 48,078 foreign-invested enterprises were newly established across the country, an increase of 36.2% year on year, both at historic highs. Industry experts told reporters that China’s manufacturing industry will be a hot land for foreign investment this year.

At the beginning of the New Year, multinational enterprises have increased their layout of the Chinese market.

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ABB’s global head of electrical business, Ma Teng, the “first stop” of the New Year’s business trip came to Xiamen, he announced that the company will increase its capital in China by $100 million in the next three years, for low-carbon technology research and development, intelligent manufacturing upgrade and low-carbon industrial chain empowerment. This year, he came to China earlier than in previous years. “I’ve been to China three times in the last year and definitely more this year because China is developing so fast and we are so close to the market that we can’t stay away for too long.” It is important to value the new growth opportunities generated by China’s promotion of industrial innovation and upgrading and low-carbon green development, and ABB can start early to maintain the pace of leadership.

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In recent years, multinational companies continue to be optimistic about China’s development prospects and their investment enthusiasm is not decreasing, thanks to the super-large-scale market, high-quality talents, industrial supporting ability, good infrastructure and stable social environment. Behind the “real money and silver” investment of foreign investors, it contains their eager expectations for the Chinese market to stabilize their global performance, and their confidence in the prospects of China’s macroeconomic development.

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If a plane tree is planted, a phoenix will come. While attracting effective investment from foreign companies, it is also essential to build a good business environment. Yang Ping said that in the process of organizing the concentrated commencement of major industrial projects, policy guarantee is indispensable, which will help the government to continuously improve the ability to optimize the business environment.

“In 2024, the National Development and Reform Commission will adhere to the introduction of policies, optimize services and other aspects of the force to promote the use of foreign investment in high-quality development.” Liu Susshe, deputy director of the National Development and Reform Commission, said that it will completely cancel the restrictions on foreign investment access in the manufacturing sector, accelerate the introduction and implementation of comprehensive policies to attract and utilize foreign investment, and adopt a package of pragmatic measures such as increasing support and guarantee policies and docking high-standard international economic and trade rules.