Foreign investors benefit from China's opening-up policies: official

BEIJING -- With opening-up policies in the pipeline, foreign companies are betting on the Chinese market, an official with the country's Ministry of Commerce told the China Economic Roundtable hosted by Xinhua News Agency.

Foreign enterprises' interest in investing in China is growing, said Zhu Bing, director of the commerce ministry's department of foreign investment administration. He added that the number of newly-founded foreign-invested firms across the country increased 36.2 percent year on year in the first 11 months of 2023.

"In particular, investment from developed countries like the United Kingdom, France, the Netherlands, Switzerland and Australia increased significantly," Zhu said.

According to experts, the growing appeal of the Chinese market is largely attributed to the country's efforts to flesh out its pledge to open its door wider.

In December 2023, China's State Council issued a comprehensive plan to promote the high-level institutional opening-up of the China (Shanghai) Pilot Free Trade Zone (FTZ) by aligning it with high-standard international economic and trade rules.

The plan contains a total of 80 measures covering seven areas, including initiatives to facilitate trade in goods and services, promote digital trade and enhance intellectual property rights protection, among others.

Earlier in July 2023, China has issued a 24-point guideline which is designated to improve the climate for foreign investment and attract more capital.

"China's institutional opening up has made foreign enterprises feel more reassured," said Zhao Yugang, an official with the Shanghai Pilot FTZ management committee.

Zhao said that in order to boost its attraction to international investors, the Shanghai Pilot FTZ will continue to ease foreign investment access and create a fair competitive environment.

China Economic Roundtable is an all-media talk platform launched by Xinhua News Agency, with the third episode featuring foreign trade and investment.