Measures can improve service efficiency, consolidate
supply chain, experts say
BEIJING, July 22, 2024 /PRNewswire/ -- A news report
from chinadaily.com.cn:
China's continuous reform
measures and high-level opening-up will inject fresh momentum into
its economic growth, creating more opportunities for multinational
corporations to invest and thrive in the country, said market
observers and business executives on Sunday.
They added that China's
accelerated cultivation of new quality productive forces, along
with its industrial transformation and upgrading, will further
facilitate trade and investment globalization, and make global
businesses profitable in the country.
Their comments came as China
vowed to deepen reform for better management of foreign
investment.
According to the full text of the Resolution of the Central
Committee of the Communist Party of China on Further Deepening Reform
Comprehensively to Advance Chinese Modernization, which was
released on Sunday, China will
expand the catalog of industries encouraging foreign investment and
reasonably reduce the items on the negative list for foreign
investment access.
China will fully remove the
restrictions on foreign investment in the manufacturing sector and
promote wider opening of sectors such as telecommunications, the
internet, education, culture and healthcare, according to the
resolution.
Chen Wenling, chief economist at
the Beijing-based China Center for
International Economic Exchanges, said that China's new round of economic reforms will
effectively curb the protectionist behavior of some local
governments, consolidate the global supply chain system, and create
a closer synergy between foreign investment and the country's
economic development.
Denis Depoux, global managing director at market consultancy
Roland Berger, said the reforms in
China's economic sector and the
development of its new quality productive forces aim to enhance
productivity through innovation.
"This, in turn, will drive higher domestic consumption and
stimulate further economic growth," Depoux said.
Zhang Chundi, vice-president for
China at Decathlon, said the
French sporting goods manufacturer and retailer plans to open 20 to
30 new stores in China in each of
the next two years.
As one of the few markets globally that are proficient in
manufacturing, logistics, product design and retail, China currently accounts for 44 percent of
Decathlon's global business volume.
"China's consistent opening-up
measures have brought multiple benefits to foreign companies," said
Zhang, adding that this not only provides wider market access, but
also helps simplify administrative procedures and improve service
efficiency.
Mohammed Al Ajlan, chairman of
the Saudi-Chinese Business Council, said that China is making substantial efforts to help
companies, especially small and medium-sized manufacturers, achieve
effective industrial upgrades and transformation.
By enhancing the high-end, intelligent and green aspects of the
manufacturing industrial chains across the country, these efforts
will offer significant opportunities to global investors, he
said.
Oliver Giersberg, senior
vice-president and chief operations officer for China at BSH Home Appliances Group, a German
manufacturer with 11,000 employees in the country, said that
China's overall environment has
fueled the company's creativity and innovation, boosting its
development globally.
Amid China's vigorous push for
innovation, Giersberg noted that the country's fast-growing
digitalization and artificial intelligence sectors closely align
with the company's growth strategy. "Now, more than ever, we are
eager to leverage these factors to achieve global success," he
added.
China saw the establishment of
26,870 new foreign-invested enterprises in the first half of the
year, marking a 14.2 percent year-on-year increase, data from the
Ministry of Commerce showed.
On Wednesday, the ministry emphasized that it will continue to
promote high-level opening-up and improve the business environment,
ensuring equal treatment for domestic as well as foreign
companies.
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SOURCE chinadaily.com.cn