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China will strengthen efforts to remain an investment hotspot by lowering market entry thresholds, creating a better business environment and improving foreign investment utilization levels, officials said. |
Chinese modernization, driven by high-quality development, will provide foreign investors with a broader market space and more opportunities for collaboration, said Commerce Minister Wang Wentao on Sunday on the sidelines of the ongoing sixth China International Import Expo in Shanghai. |
"China's fundamentals, including its super large market scale, complete industrial supporting facilities and an upward economic trend, will not change, and such comprehensive strengths are still prominent," Wang, who gave a speech at the "Invest in China Year" summit and Shanghai city promotion event in Shanghai, said. |
The event aims to amplify the spillover effect of the CIIE, showcase the achievements made by the Ministry of Commerce's "Invest in China Year", and demonstrate investment opportunities in Shanghai. |
"We will continue to create a first-class business environment that is market-oriented, law-based and internationalized, and work hand in hand with everybody to create an open and prosperous future," said Gong Zheng, mayor of Shanghai. |
As of end-September, Shanghai was home to 940 multinational corporations' regional headquarters and 551 foreign-funded research and development centers, Gong said. |
Markus Steilemann, CEO of Covestro, said China is one of Covestro's largest markets, contributing to one-fifth of the group's total sales revenue last year. |
Steilemann said the company's total investment in China surpassed 3.9 billion euros ($535.6 million) as of the end of 2022, and that its investment will continue. |
Themed "Working Together for a Bright Future of Openness and Prosperity", the summit, jointly held by the Ministry of Commerce and the Shanghai Municipal People's Government, looked to better enable CIIE to play a bigger role in investment promotion and showcase China's investment opportunities. |
More than 300 guests, including officials, MNC executives, representatives from international organizations and foreign business associations, attended the summit. |
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