China becomes engine for foreign enterprises' global business

China has become the driving force and engine for the global business development of many foreign enterprises, said Sun Xiao, spokesman for the Beijing-based China Council for Promotion of International Trade, at a news conference on Thursday.

The vast majority of foreign-funded enterprises shows confidence in the long-term development prospects in China, and has a high evaluation of obtaining business premises, market access and tax payment indicators, Sun said, citing a report on China's business environment for foreign investors in the third quarter.

Data showed that in Q3 the percentage of foreign enterprises choosing "fairly satisfied" and above in terms of obtaining business premises, market access and tax payment were 95.33, 89.94 and 88.71 percent, respectively, according to the report.

China's continuously improving business environment provides a strong guarantee and lasting impetus for foreign enterprises to take root in the Chinese market.

Foreign enterprises' satisfaction with market access, promotion of market competition, access to business premises and financial services increased by 1.99, 1.84, 1.52 and 1.43 percentage points, respectively, compared with the second quarter.

China's business environment has demonstrated its strong attractiveness as is indicated by foreign investment's amount and structure, as well as foreign companies' participation in China's economic development, Sun said.

The actual use of foreign direct investment into Chinese mainland rose 15.6 percent year-on-year to over 1 trillion yuan ($138.81 billion) in the first nine months of 2022, the Ministry of Commerce said Thursday. In US dollar terms, the country's actual use of foreign capital grew 18.9 percent.