China’s Xi Jinping pledges ‘heart-warming’ measures, to tear down barriers to attract foreign investors
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China’s Xi Jinping pledges ‘heart-warming’ measures, to tear down barriers to attract foreign investors
President Xi Jinping pledged more measures would be unveiled to attract foreign investors to China on Thursday, amid Beijing’s increasing efforts to restore the ebbing confidence of foreign companies, which has hampered its post-pandemic recovery.
“No matter how the international situation evolves, China’s resolve to foster a market-oriented, law-based and world-class business environment will not change,” Xi said in written remarks on Thursday to the Asia-Pacific Economic Cooperation CEO Summit in San Francisco.
“And our policy of providing equal and quality services to foreign investors will not change.
“We will strive to tear down the barriers to the flow of innovation factors, deepen reform of the digital economy, and promote free and orderly flow of data in compliance with the law.”
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‘Door to China-US relations will not be closed again’: Xi Jinping offers assurances to US businesses
‘Door to China-US relations will not be closed again’: Xi Jinping offers assurances to US businesses
He added that China would implement more “heart-warming” measures, such as improving the policies on entry and retention of foreign nationals in China, and removing choke points in financial, medical, e-payment and other services.
He also vowed to improve the protection of foreign investors’ rights and interests, further shorten the negative list on foreign investment, fully ensure equal treatment for foreign investors and continue to strengthen intellectual property rights protection.
The purpose is to create a more equitable market competition environment for foreign-funded companies
It marked the first quarterly deficit since the State Administration of Foreign Exchange began collecting such data in 1998.
To ease concerns, the Ministry of Commerce said it has also been investigating restrictions that may discriminate against foreign-funded enterprises.
“The purpose is to create a more equitable market competition environment for foreign-funded companies, stabilise the expectations and confidence of foreign investors in long-term investments in China, actively and effectively utilise foreign capital, and contribute to the establishment of a new development paradigm,” the ministry said on Thursday.
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