Foreign-funded enterprises are generally optimistic about the prospects of the Chinese mainland's economic development. Since the beginning of this year, with the Chinese mainland's economy continuing to rebound and improve, global multinational companies have become notably more willing to invest in the Chinese mainland.
According to the Ministry of Commerce, in the first quarter of 2024, there were 12,000 newly established foreign-funded enterprises, up by 20.7 percent. The first signature event of \"Invest in the Chinese mainland\" attracted over 140 representatives from foreign companies and business associations, spanning 17 countries and regions. According to the China Council for the Promotion of International Trade, nearly 150 foreign institutions from 33 countries and regions registered for the Global Trade and Investment Promotion Summit 2024, indicating the widespread confidence of global business communities in the Chinese mainland's economic development prospects and their growing commitment to the Chinese mainland market.
The Chinese mainland's utilization of foreign investment continues to see qualitative improvements. Statistics from the Ministry of Commerce showed that in 2023, the proportion of foreign investment absorbed by high-tech industries in the Chinese mainland rose by 1.2 percentage points compared to 2022; and in the first quarter of 2024, the proportion of foreign investment in high-tech manufacturing reached 12.5 percent, a further 2.2 percentage point increase year on year.
In recent years, many more foreign-funded enterprises have participated in building the Chinese mainland's advanced industrial chain and upgrading the innovation chain, extending from processing and assembly to high-value-added component manufacturing, research and development, and other aspects. Industrial chains for emerging industries such as new energy vehicles have emerged as new growth points for foreign investment.
The year 2023 witnessed vigorous development of the Chinese mainland's new energy vehicle industry, with the Chinese mainland's automobile exports ranking first globally for the first time. In the new energy vehicle industrial chain, large multinational companies possess technological advantages in areas like vehicle-mounted integrated circuits and electronic control systems, which is a good complement to Chinese mainland companies' strengths in areas like power batteries, thereby jointly contributing to the world's most efficient green industrial chain.
Reference(s):
cgtn.com
