Attracting Foreign Investment to Achieve a New High in China's Economy and Winning a "Vote of Trust" Company | China | Vote of Trust

Geneva, July 8 (Xinhua) - The 2023 World Investment Report released by the United Nations Conference on Trade and Development shows that China's foreign direct investment attraction increased by 5% in 2022, reaching a record high of $189.1 billion. Meanwhile, due to factors such as the escalation of the Ukrainian crisis, high food and energy prices, and soaring public debt, global foreign direct investment in 2022 decreased by 12% to $1.3 trillion compared to the previous year.

Analysts point out that against the backdrop of multiple challenges facing the world economy, China's attraction of foreign direct investment is steadily increasing, once again indicating that the world has cast a vote of confidence in the Chinese economy.

This is the Tianjin Port IoT container terminal.

According to a report by the United Nations Conference on Trade and Development, foreign direct investment inflows to developed economies decreased by 37% to $378 billion in 2022, while foreign direct investment inflows to developing countries increased by 4% to $916 billion in 2022. The amount of foreign direct investment from developing countries in the Asian region has remained stable, at approximately 662 billion US dollars, accounting for about half of global inflows. China's attraction of foreign direct investment continues to steadily increase.

According to the report, foreign direct investment flowing into China is mainly concentrated in the manufacturing and high-tech industries, with most of the investment coming from multinational enterprises in Europe. Faced with the complex world economic situation, China is continuously enhancing its innovation leadership role, striving to develop new industries and formats, and a series of practical measures to promote high-quality development, which have made more and more foreign-funded enterprises optimistic about the long-term development prospects of the Chinese economy.

With the continuous advancement of China's high-level opening-up to the outside world, more and more foreign-funded enterprises are settling their research and development centers in China, becoming important participants and promoters in building an open innovation ecosystem. Behind the gathering of foreign R&D centers in China is China's vast market, a sound industrial ecosystem, continuously optimized business environment, and abundant talent reserves.

On February 28th, the shield tunneling section of the Zhanjiang Bay submarine tunnel on the Guangzhou Zhanjiang Railway crossed the sea and city.

Gao Le, President and CEO of BMW Group in Greater China, stated that for BMW Group, China is not only the world's largest single market, but also an important source of innovation. BMW Group has established the largest R&D and digital system outside of Germany in China.

Mohammad Luta, President and CEO of the Dubai Chamber of Commerce, believes that China's economic growth foundation is solid, supported by a strong manufacturing and talent pool, which is crucial for innovation. China has complete infrastructure and strong financial technology capabilities, with rapid development in cutting-edge technologies such as artificial intelligence and the Internet of Things. These competitive advantages are attractive to foreign enterprises.

Industry insiders believe that the economies of all countries in the world have been impacted to varying degrees during the COVID-19 epidemic, and the performance of many multinational companies has been damaged. However, China's supporting industries are comprehensive and the economy is resilient. Most foreign-funded enterprises in China still regard China as the main strategic market.

Borg Brend, President of the World Economic Forum, stated that China's economic development is of great significance to the world. China is the world's second-largest economy, contributing over 30% to global economic growth. Many measures taken by China have supported economic growth, and a survey by the World Economic Forum shows that business people are full of expectations for opportunities in the Chinese market after the pandemic.

The New York Times recently pointed out in an article that the development of German companies in China is crucial. German chemical giant BASF's executive chairman, Bo Mule, said that the Chinese business can effectively offset the impact of high energy costs in Europe. "Without China, the restructuring required by the company would have become impossible."

On March 23rd, the X8489 China Europe freight train departed from Xi'an International Port Station.

Analysts point out that under the combined effects of various factors such as the impact of the epidemic, geopolitical conflicts, and inflation, the global industrial chain is accelerating its restructuring. The fact that China's attraction of foreign direct investment continues to steadily increase indicates that more and more people are realizing that those "decoupling and chain breaking" rhetoric and practices will only make the world economy, which is already facing many challenges, more bleak. Investing in developing countries, including China, is beneficial for enterprises from all countries to share opportunities, promote more orderly and efficient industrial connections, and promote the construction of resilient global industrial and supply chains.

Regarding China's role in the global trading system, WTO Director General Ivira said that China is "pivotal" in the global trading system, and its good performance in trade will help promote the economic and trade development of other countries and regions, especially developing economies.

A large number of investors from around the world are investing and developing in China, making China's connection with the world economy increasingly close. China's adherence to high-level opening-up and greater efforts to attract and utilize foreign investment are conducive to further deepening mutually beneficial cooperation between China and countries around the world, and promoting the construction of an open world economy.

Bernard de Witt, Chairman of the Belgian China Economic and Trade Commission, stated that China provides important support for the operation of global industrial and supply chains. This year, China's economic growth prospects are promising and will further contribute to global economic recovery.