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China to increase foreign investment, optimize business environment

Updated: Oct 30,2019 09:14 AM    CGTN

China looks to keep the momentum going following its recent ranking in the World Bank's assessment of global business environments. The nation introduces more measures geared toward earning an even higher spot than the 31st place finish it garnered this time. The new measures serve preparatory work ahead of a law aimed at promoting foreign investments and protecting the interests of international businesses.

Doing business in China will be easier for foreigners. The country is promoting foreign investment and protecting the lawful interests of international companies. Earlier this year, the Foreign Investment Law was approved by the nation's top legislature.

It will be officially put into effect on Jan 1, 2020.

The law legalizes pre-entrance national treatment for foreign investments, prompting enterprises under different ownership to compete on a level playing field. It also features a negative list, stating the dos and don'ts of international businesses.

As Vice-Minister of Commerce and Deputy China International Trade Representative Wang Shouwen stated, the country will continue to reduce the negative list of foreign investment access across the country and the pilot Free Trade Zone, reduce the cost of cross-border capital use, optimize the innovation service of foreign-funded enterprises and fully implement the Foreign Investment Law.

China has become a more popular destination for foreign investment over the years as many world-renowned names have set up long term projects in China. Foreign enterprises cast their votes of trust here amid the shady international economic climate.

There are many examples to show nationwide. Tesla's super factory in Shanghai has entered the trial production stage. There are also Cummins engine projects from the US in Hefei, a BASF project from Germany in Zhanjiang, and a Swiss Ineos chemical project in Ningbo. This fully reflects the confidence of foreign investors in China's long-term investment.

From the local to the national level, China continues renewing and enforcing business regulations.

In the face of future uncertainty, China is still willing to open its market further and embrace opportunities regardless of nationalities and regions. It is committed to providing an environment that lets all kinds of enterprises flourish.