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Foreign investment continues to grow for Chinese manufacturing amid trade tensions

Updated: May 20,2019 8:05 PM     People’s Daily Online

In the first four months of 2019, foreign investment in Chinese manufacturing increased by 11.4 percent when compared with the same period last year, despite trade tensions between China and the US, according to official data.

At the same time, China’s actual use of foreign capital reached over 305 billion yuan ($44 billion), up 6.4 percent from the previous year.

Benefiting from China’s vast market, low operational costs, and sufficient labor sources, multiple foreign companies have witnessed their businesses thrive in the country and have said that they will continue to invest in China.

“China is the largest single market in the world,” said Li Jie, executive vice-president of the British car maker Jaguar Land Rover’s Chinese company at the Expo Central China 2019.

“The reason why we bring the latest and most cutting-edge technology to China is that we value the Chinese market and believe it holds great prospects,” Li explained.

“We’ve made huge profits in the Chinese market since we entered it three decades ago, and we will continue to expand and improve our business here,” Wang Ping, director of Schneider Electric China, said at the expo.

Earlier this year, China approved a new foreign investment law at the 13th National People’s Congress to protect the rights and interests of overseas investors.

Foreign companies will see more business opportunities brought by the negative list on the market access of foreign investment and the catalogue of foreign investment industries that are expected to be released by the end of this June.