Q&A on China's Economic Hotspots in the First Season | What is the attractiveness of the Chinese market to foreign investment?
2024-04-22
According to data from the Ministry of Commerce, the actual amount of foreign investment used by China in the first quarter of this year was 301.67 billion yuan, a year-on-year decrease of 26.1%. At the same time, there were 12000 newly established foreign-funded enterprises, a year-on-year increase of 20.7%, and the proportion of manufacturing investment attraction increased. How to view the current situation of China's investment attraction? What is the attractiveness of the Chinese market to foreign investment? Xinhua News Agency reporters went deep into Guangdong, Jiangsu, Sichuan, Shanghai, Beijing and other places to investigate the current situation of investment and development of foreign-funded enterprises in China. The demand for the ultra large scale market is difficult to let go of the sea breeze blowing over Donghai Island in Zhanjiang. In the past, border fishing villages have become the largest port industrial island in Guangdong. In the Donghai Island Petrochemical Industrial Park, BASF, a German chemical company, has made new progress in the construction of its largest overseas investment project, the BASF (Guangdong) Integrated Base, with a total investment of approximately 10 billion euros. At the beginning of the year, the thermoplastic polyurethane (TPU) device here was officially announced for production, and its products will be widely used in fields such as new energy vehicles, biomedicine, and people's livelihood industry. "Currently, China is the world's largest chemical market and has important strategic significance for BASF," said Lin Hanping, President of BASF Asia's Large Project. The integrated base located in Zhanjiang, Guangdong will become an important platform for BASF to achieve profitability and sustainable growth in China in the future. The chemical industry affects thousands of industries and households. It is predicted that China will be the main driving force for global chemical industry growth until 2030, contributing about half of global chemical production. "The Chinese market has always been our biggest growth engine," and "the growth of the Chinese and Asian markets continues to lead." From biopharmaceuticals to new energy materials, from cosmetics to food and beverage, reporters have visited multinational enterprise leaders in multiple industries, and their unanimous answer is that they are optimistic about the growth trend of the Chinese market, confirming that the Chinese market remains attractive in the turbulent and intertwined international context. Horizontally, the slowdown in global economic growth, rising geopolitical risks, and weakened external demand are intertwined with multiple complex factors, resulting in a sluggish global cross-border direct investment. The report of the United Nations Conference on Trade and Development points out that global cross-border investment will decrease by 18% in 2023. Looking vertically, from 2019 to the first quarter of 2023, China's absorption of foreign investment continuously broke historical records. Despite multiple challenges, the Chinese market still exhibits strong resilience, which is directly reflected in the "ledgers" of many multinational corporations. In the fiscal year 2022-2023, Zeiss Group's revenue in Greater China reached 13.49 billion yuan, an increase of 22%; In 2023, Bosch Group's sales revenue in China reached 139.1 billion yuan, accounting for about 20% of global revenue and an increase of 5.2%; In 2023, the sales revenue of Fareo China reached 30 billion yuan, accounting for about 17% of global revenue... According to the calculation of the State Administration of Foreign Exchange, the return on foreign direct investment in China in recent years is about 9%, which is at a high level internationally. With the recovery of China's economy, some industries are showing a positive trend in attracting foreign investment. According to data from the Ministry of Commerce, in the first quarter, the actual use of foreign investment in the accommodation and catering industry, construction industry, wholesale and retail industry, and financial industry increased by 84.7%, 17.5%, 2.2%, and 1.4%, respectively. Entering China from the early stages of reform and opening up to 2021
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