BEIJING, Nov. 2, 2022 /PRNewswire/ — Most foreign-funded companies remain positive in the Chinese market, as China has great opportunities in the coming years thanks to unremitting opening-up efforts, improving environment business and the bright prospects for market growth.
The successful conclusion of the 20th National Congress of the Communist Party of China has further boosted foreign companies’ confidence in the market, according to a survey released on Oct. 27 by the China Council for the Promotion of International Trade (CCPIT).
Among the more than 500 foreign companies surveyed, 96.7% affirmed China’s development achievements in the past decade and 96.9% expressed greater confidence in the Chinese market.
China has been striving to create new opportunities for the world through its own development. The China International Import Expo (CIIE) is one such measure to actively open up the Chinese market to the world.
This year’s CIIE has attracted 284 Fortune Global 500 companies and industry leaders. Nearly 90% of the Fortune Global 500 companies and industry leaders who attended last year’s event are returning this year. Rio Tinto, BHP Group, ThyssenKrupp and Gilead Sciences are some of the Fortune Global 500 companies debuting at the CIIE.
Attractive Chinese market
This rising sentiment among foreign companies was also reflected in China’s foreign direct investment (FDI) figures. In the first nine months of 2022, China’s FDI inflow in actual use exceeded $155.3 billion, up 18.9% year-on-year, according to data from the Ministry of Commerce (MOFCOM).
From January to September, investment from Germany soared 114.3% in annual terms, while that of South Korea increased by 90.7%, that of Japan by 39.5% and that of the United Kingdom by 22 .3%, according to MOFCOM.
China is the world leader in foreign capital inflows. Its global share of FDI in the first quarter of 2022 was 19.5%, ranking first in the world, according to the Organization for Economic Co-operation and Development.
Improvement of the business environment
In the first quarter, about 90% of foreign-funded companies were satisfied with China’s policies on market access, promotion of market competition, access to business premises and financial services.
A separate survey released by CCPIT on Oct. 27 showed that nearly 80% of foreign companies surveyed have maintained their current scale of production and business in China, while more than 5% have expanded investment by prioritizing strategic development in China. .
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