China's Ministry of Commerce (MOFCOM) has unveiled plans to enhance the level of services for foreign investment, signaling a strategic push to attract more high-quality foreign direct investment (FDI) into the country's listed companies by 2025.
Ling Ji, vice minister of MOFCOM, emphasized the importance of optimizing regulations related to the establishment of investment companies, streamlining rules and procedures for foreign mergers and acquisitions, and supporting foreign enterprises in participating in China's new industrialization process. These measures aim to create a more favorable environment for foreign investors seeking to enter or expand within the Chinese mainland market.
During a press conference, Zhu Bing, director of the Department of Foreign Investment Administration at MOFCOM, highlighted that by the end of 2023, China hosted a total of 465,000 foreign-funded enterprises, marking an increase of 46,000 since 2019. In 2024 alone, 59,000 new foreign-funded enterprises were established, reflecting a year-on-year growth of 9.9 percent. Zhu noted that despite some multinational corporations retreating from China, the overall number of foreign enterprises continues to rise.
As of 2024, nearly 1.24 million foreign-funded enterprises have been established in China, with the actual use of foreign capital reaching 20.6 trillion yuan ($2.83 trillion). Ling Ji pointed out that actively attracting and utilizing foreign investment has allowed China to advance technologies and management expertise, promote economic development across various regions, increase tax revenues, create numerous jobs, improve living standards, and enhance the supply of goods and services.
These initiatives underscore China's commitment to fostering a robust and dynamic economic landscape that welcomes foreign investment while driving sustainable growth and innovation.
Reference(s):
MOFCOM: Encouraging more high-quality foreign investment in China
cgtn.com
