FDI inflows increase despite unprecedented global challenges
November 5, 2019 Category China News Round-up, Weekly
Foreign direct investment (FDI) inflows into China will see steady growth this year and in 2020, amid further opening-up and the shift to internationally accepted trade rules, industry experts and officials said. Though the global economy is facing unprecedented challenges such as a slower economic growth pace and rising trade tensions, the Organization for Economic Cooperation and Development (OECD) said that FDI inflows into China grew 4% year-on-year to USD73 billion during the first six months of this year, making China the world’s second largest economy in terms of attracting foreign capital. The U.S. remained the world’s largest FDI recipient country, attracting USD143 billion during the six-month period.
Vice Commerce Minister Wang Shouwen said the government will constantly enhance policy transparency and show consistency in implementing and in creating a fair and neutral market environment where Chinese and foreign companies are treated as equals and engage in fair competition. In addition, the government will also step up efforts to further protect foreign investors’ legitimate rights and interests. China this year has taken a series of measures, including promulgating the Foreign Investment Law and the new version of the negative lists for foreign investment market access, as well as setting up new pilot free trade zones.
“We will neither explicitly nor implicitly force foreign investors and international businesses to transfer technologies,” said Zhang Zhicheng, Director General of the IP Protection Department at the National Intellectual Property Administration.
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