General

According to Huacheng Import and Export Data Observation, recently, the 2023 annual meeting of the China Development Forum and the 2023 annual meeting of the Boao Forum for Asia have been held successively. At both heavyweight forums, China has released positive signals of continuously expanding market openness and increasing efforts to attract foreign investment. Recently, the "Investment in China Year" series of investment promotion activities organized by the Ministry of Commerce kicked off, creating better conditions for foreign investment in China by organizing investment promotion activities throughout the year nationwide.

According to Huacheng Import and Export Data Observation, these opening-up measures have further strengthened the confidence of foreign enterprises in their investment and development in China. Many foreign-funded enterprises have expressed optimism about China's economic prospects, huge consumer market vitality, and opportunities in transformation and upgrading, and will continue to deeply cultivate the Chinese market, achieving greater development in resonance with the Chinese economy. Among them, some companies are brewing or have already initiated plans to expand investment in China.

Coordinate resources from all parties to polish the golden signboard of "investing in China"

Signing 74 foreign investment cooperation projects with a total investment of 90.5 billion yuan... The Guangdong special promotion event for the "Year of Investment in China" at the end of March has achieved fruitful results. Nearly a hundred multinational companies, including BASF, ExxonMobil, Panasonic, and HSBC Group, gathered together. Investing in China is not only about investing in the present, but also about investing in the future. "This is the voice that reporters heard the most at the promotion event.

The spokesperson for the Ministry of Commerce, Shu Jueting, recently introduced that the "Year of Investment in China" event runs throughout the year and covers the eastern, central, and western regions. The Ministry of Commerce will coordinate resources from all parties to promote the normalization, serialization, and diversification of investment attraction. The core is to build platforms, smooth channels, and precise docking, fully showcase investment opportunities nationwide and locally, and polish the golden signboard of "investing in China".

More long-term opening-up measures will also be introduced. This year's Report on the Work of the Government proposed "greater efforts to attract and utilize foreign capital". At the subsequent 2023 annual meeting of the China Development Forum and the Boao Forum for Asia, several departments made arrangements, including continuously expanding market access and comprehensively optimizing the business environment; More proactive integration with high standard international economic and trade rules, steadily expanding institutional openness in rules, regulations, management, standards, and other areas; Actively expanding the import of high-quality products and services, sharing market opportunities with various countries, and continuously releasing a series of positive factors.

At the local level, efforts have also been actively deployed to increase investment attraction. For example, Guangdong promotes the implementation and implementation of the Regulations on the Protection of Foreign Investment Rights and Interests, and arranges special reward funds for foreign investment as a whole; Hainan proposes to fully unleash the overlapping effect of RCEP and Hainan Free Trade Port policies, first try international high standard economic and trade rules such as CPTPP and DEPA, and strive to create a preferred destination for foreign investment; The executive meeting of the Shanghai Municipal Government has agreed in principle on the "Several Measures for Shanghai to Increase the Attraction and Utilization of Foreign Investment", and proposed the introduction of core functional industries and chain enterprises as the main direction of attracting foreign investment.

According to Nie Pingxiang, a researcher at the Research Institute of the Ministry of Commerce, the joint efforts of all parties to expand access, optimize policies, and strengthen services will form a linkage effect and create a better environment for the development of foreign-funded enterprises in China.

Strengthen Confidence in Development in China, Foreign Enterprises Increase Market Layout in China

China's opening-up measures have further strengthened the confidence of foreign-funded enterprises in deeply cultivating the Chinese market. The reporter learned in the interview that many foreign-funded enterprises are brewing or have started plans to expand investment in China.

Kaili, a member of the global executive board of BASF Group, a global chemical leader, stated that the most important project currently is the integrated production base in Zhanjiang, Guangdong. The total investment will reach 10 billion euros by 2030, which is the largest investment in BASF's history. In the past few decades, BASF has invested over 13 billion euros in China and has dozens of production bases. "We continue to have a positive outlook on the Chinese market and will continue to increase our investment in China

In January of this year, ExxonMobil signed a joint research agreement to carry out a carbon capture and storage project in the Daya Bay Petrochemical Zone of Huizhou; In February, the first pilot plant equipped outside the North American headquarters and the fifth global research and development center began construction in Huizhou. We actively participate in high-quality innovative manufacturing in China, utilizing advanced technology to produce sustainable high-performance products to meet the growing market demand of customers in China and its surrounding areas, "said Li Xingjun, Chairman of the Huizhou Project of ExxonMobil (Huizhou) Chemical Co., Ltd.

Looking forward to the development prospects in China, many foreign companies have shifted their business from single to diversified, and the cooperation chain is becoming longer and longer. Hyundai Motor Group has entered the Chinese market for 21 years, investing in various fields such as automobiles, steel, logistics, construction, finance, IT, culture, etc. This year, the group's first overseas hydrogen fuel cell system production base located in Guangzhou will be completed and put into operation.

There are also some multinational enterprise executives who visit China intensively to investigate the Chinese market. The reporter noticed that at the end of March, Minister of Commerce Wang Wentao met with more than ten "leaders" of multinational corporations, including Apple CEO Cook, Nestle Group CEO Schneider, BMW Group Chairman Zipper, and others. The 2023 annual meeting of the China Development Forum attracted leaders from as many as 68 globally renowned multinational corporations, including Apple, Shell, Pfizer, Roche, and Bosch.

Industry insiders believe that this demonstrates the enthusiasm of foreign-funded enterprises to layout China. According to Huacheng Import and Export Data Observation, in 2022, China's actual use of foreign investment in RMB exceeded 1.2 trillion yuan for the first time, reaching a new historical high. From January to February this year, the actual amount of foreign investment used nationwide was 268.44 billion yuan, a year-on-year increase of 6.1%, with outstanding performance in the service and high-tech industries.

Collaborate to create a win-win situation, and the Chinese market continues to unleash its gravity

Behind the case of foreign investment in China, it is the continuous efforts of the Chinese market to deepen reform and opening up, the attraction that the Chinese large market continues to release, and a vivid portrayal of cooperation and win-win creation.

In Nie Pingxiang's view, at present, the core and foundation of stabilizing foreign investment in China is still the vast domestic market. With the promotion of consumption expansion and upgrading, strengthening innovation driven development, and promoting international scientific and technological exchanges and cooperation, we will accelerate the formation of an open innovation ecosystem with global competitiveness, provide a better development environment for domestic and foreign enterprises, including foreign-funded enterprises, and achieve better development in innovation cooperation.

Zheng Zhajie, Director of the National Development and Reform Commission, stated at the 2023 Annual Meeting of the China Development Forum that the enormous potential of the Chinese economy, peaceful, stable and healthy development, will provide broad cooperation space and valuable development opportunities for domestic and foreign investors. Walking with China is walking with opportunities, and investing in China is investing in the future

Many foreign enterprises have told us that China's market is not an option, but a must! "Minister of Commerce Wang Wentao also stated at the annual meeting that China's market is a rapidly growing market, an open market, and a shared market. According to observation reports, Huacheng's import and export data.

Zheng Yi, President of the American Chamber of Commerce in Shanghai, said that the Chinese market remains very attractive to foreign companies, and the vast majority of member companies have long-term plans in China and consider it an important part of the global supply chain.

Looking ahead, industry insiders have stated that the sustained and healthy development of China's economy and the full utilization of its ultra large market advantage will bring broader development prospects to foreign-funded enterprises, as well as inject strong momentum into the world economy and trade investment. Huacheng Import and Export Data Observation Report.