Economy

In January, the country absorbed more than 100 billion yuan of foreign investment. China is still a hot spot for foreign investment

2023-02-21   

According to the data released by the Ministry of Commerce on February 20, the actual amount of foreign capital used nationwide in January reached 127.69 billion yuan, up 14.5% year on year; Equivalent to US $19.02 billion, up 10% year on year. Experts analyzed that China is still a hot spot for foreign investment and development. This year, the policy level will make greater efforts to promote the stable stock and expansion of foreign investment, the breadth, depth and strength of China's opening up will be further, and the "magnetic attraction" of the Chinese market to foreign investment will continue to increase. In terms of industries, the actual use of foreign capital in manufacturing increased by 40.4% year on year. The actual use of foreign capital in high-tech industries increased by 62.8% year on year, including 74.5% in high-tech manufacturing and 59.6% in high-tech services. In terms of regions, the actual use of foreign capital in the eastern, central and western regions increased by 13.4%, 25.9% and 21.6% respectively year on year. Cui Weijie, vice president of the Research Institute of the Ministry of Commerce, told the Shanghai Securities News that the sharp increase in foreign capital inflow data is a direct reflection of the improvement of China's business environment and the effectiveness of measures to stabilize foreign investment, which also shows that foreign investment is full of confidence in China's economic growth, and China is still a hot spot for foreign investment. "Recently, many international organizations have raised their expectations of China's economic growth rate this year, and economic growth means investment opportunities. According to the survey of relevant institutions, the vast majority of foreign-funded enterprises are very confident about China's economic development prospects this year." Meng Huating, head of the Foreign Investment Management Department of the Ministry of Commerce, said at a press conference in early February. The overlapping effect of policies to attract foreign investment is also an important reason. "Since last year, the Ministry of Commerce has issued a new version of the Catalogue of Industries Encouraging Foreign Investment with relevant departments, and issued a series of special policies to promote the introduction of investment in manufacturing industry and encourage the establishment of foreign R&D centers," said Meng Huating. The reporter learned that there are many initiatives proposed recently, such as strengthening the service of attracting foreign investment and attracting more large foreign investment projects. For example, Zhejiang proposed to do a good job in attracting major foreign investment projects with unconventional efforts and measures; Shanghai will implement the action of "using foreign capital to build a foundation and strengthen", and said that it will promote a higher level of opening-up with greater efforts, promote policy empowerment with more practical measures, and stabilize foreign investment confidence and expectations with a better environment. Meng Huating said that the Ministry of Commerce will launch another batch of policies and measures this year according to the central deployment. "The combination of stock policy and incremental policy will bring more sense of gain to foreign-funded enterprises." "China's policy of increasing foreign investment will focus more on two aspects. On the one hand, it will relax market access in the modern service sector with more restrictions; on the other hand, it will improve the level of institutional openness by benchmarking international high-standard rules and regulations, such as issuing the negative list of cross-border service trade in the national version and the free trade pilot zone version, and accelerating the exploration of digital trade rules." Nie Pingxiang, a researcher of the Research Institute of International Trade and Economic Cooperation of the Ministry of Commerce, said in an interview with reporters. Gao Lingyun, a researcher at the World Economic and Political Research Institute of the Chinese Academy of Social Sciences, analyzed that, on the whole, the breadth, depth and strength of China's opening up will be further

Edit:Hou Wenzhe Responsible editor:WeiZe

Source:Shanghai Securities Dairy

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