China’s strong commitment to economic reform and opening up is enhancing foreign investor confidence, driven by clear policy directions and tailored support measures to foster a more inviting business environment. Recent meetings have involved significant international corporations discussing future investments and strategies to bolster consumer spending.

Recent statements from Chinese officials indicate a strong commitment to reform and continue the process of opening up the economy, which in turn bolsters foreign investor confidence. From governmental work reports to strategic policy measures, China’s dedication appears to be fostering significant development opportunities for investors.

Zhang Daopeng, General Manager of Public Affairs at Yihai Kerry Arawana Holdings, emphasized that China’s policy directions are both “clear” and “practical.” His comments followed a special meeting convened by high-ranking officials from China’s top economic and commerce ministries, aimed at providing business delegates insights on the key conclusions from China’s “two sessions” and its policy directions.

This meeting organized by the China Public Relations Association included representatives from notable international firms like Tesla and AstraZeneca, covering various sectors including finance, biopharmaceuticals, and automotive manufacturing. Jiang Yi, Director of NDRC’s Policy Research Office, described China’s economic journey over the past year as “extraordinary,” underscoring the country’s resilience and vitality.

Jiang asserted that China’s commitment to deepening reform and high-standard opening up will remain steadfast. Furthermore, the NDRC’s current priorities involve creating a conducive business environment and promoting the growth of foreign enterprises through legal and market-based frameworks.

Among the tailored support measures outlined, there is a strong emphasis on boosting consumer spending. The NDRC is focusing on increasing household incomes and enhancing consumer goods trade-in programs to tackle issues surrounding inadequate consumer purchasing power.

Zhang, attending the meeting for the second time, noted that the upcoming program aimed at boosting consumption is crucial in stimulating his company’s investments in China. His firm is keen on investing in emerging sectors like health and elderly care, which are expected to expand significantly within the Chinese market.

The latest consumption-promotion initiative reveals ambitious plans, including issuing 300 billion yuan in ultra-long special treasury bonds to strengthen consumer goods trade-in measures by 2025, significantly increasing support compared to prior years.

During the meeting, Jiang mentioned that the forthcoming catalog of industries promoting foreign investment will be released soon, encompassing sectors such as advanced manufacturing and high-tech industries. Simultaneously, the NDRC is crafting policies to encourage reinvestment by foreign firms, enhancing administrative efficiencies and financial services.

As outlined in an action plan released last month, 20 specific measures have been established to stabilize foreign investment, focusing on expanding market access and promoting investment initiatives. Wang Ya, Deputy Head of the Foreign Investment Department, articulated key themes surrounding this plan, including promoting investment and optimizing services.

The confidence of foreign firms in China’s economy is on the rise. According to a survey conducted by the American Chamber of Commerce in China, nearly 70% of consumer industry respondents plan to increase their investments in the country by 2025. Similarly, a report from the German Chamber of Commerce revealed that 92% of its member companies intend to maintain their operations in China.

Fang Juntao, Senior Vice President of Nestle Greater China, remarked that the proactive policies introduced since the “two sessions” have reinforced their commitment to long-term development in China. He added that the fair investment environment created by the Chinese government enhances the capability of foreign enterprises to explore the substantial potential of the Chinese market.

In conclusion, China’s resolute commitment to reform and its ongoing initiatives to enhance the business environment signify a renewed era of opportunities for foreign investors. By focusing on consumer spending, fostering international enterprises, and implementing strategic policies, China is poised to strengthen its position as a viable market for global investment, instilling confidence among international businesses.

Original Source: www.shine.cn

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