Foreign Firms to Ramp Up Investment

A report from chinadaily.com.cn on Feb. 18th, 2024:

China’s sustained efforts to boost domestic demand and reinforce supply chain resilience, as well as drive businesses toward green and digital transformation, will pave the way for deeper global business collaboration in its market this year, said executives of multinational corporations on Monday.

Foreign companies remain steadfast in ramping up their investment in the Chinese market, they added.

Lan Qingxin, a professor specializing in cross-border investment studies at the University of International Business and Economics in Beijing, said that as China embraces a new era of green and innovation-driven growth, global investors are increasingly focusing on digital solutions, supply chain optimization, high-end manufacturing, customized innovation and green businesses in the Chinese market.

Noting the widespread adoption of the advanced large language model DeepSeek among domestic and overseas users, Chen Shihua, deputy secretary-general of the China Association of Automobile Manufacturers, said that China’s ability to attract foreign investment will be further enhanced this year.

According to a recent survey by the Japanese Chamber of Commerce and Industry in China, more than 58 percent of Japanese companies surveyed recognize China as a key market for their global operations, and they plan to maintain or expand their investment in the Chinese market this year.

Several factors have influenced their investment decisions, including increasing demand and rising orders. The chamber said that Japanese businesses are also more confident about the Chinese market this year, driven by an improved business environment, a visa-free policy for Japanese citizens and government initiatives such as trade-in policies.