Employees make auto parts at a foreign-funded company in Anshan, Liaoning province.- Xinhua
BEIJING (China Daily/ANN): Foreign direct investment in China in 2020 is expected to exceed last year s total, as the economy has recovered quickly from the Covid-19 pandemic and the efforts to stabilis e investment and foreign trade continue to yield results, officials and experts said on Tuesday (Dec 15).
They said China s continuously improving business environment has provided global companies a fair and open market, an efficient supply chain, competitive talent pool and 5G infrastructure for innovation, as well as confidence in its economy.
Multinational corporations are keen to add investment in China and build up their industrial and service chains, in particular in areas of operations, research and development.
Chinese market critical to US firms, says business body
The Chinese market is critical to US enterprises, and the two countries need to find ways to cooperate with each other, said Matthew Margulies, vice-president of China operations of the US-China Business Council.
Given China’s GDP growth, Margulies said he believes the country will contribute close to 30 percent of global GDP growth for the next 10 years, and thus it is critical for US companies to be present in China.
“You can’t be a globally competitive company without being in China,” he said.
“Things are tense. But at the same time, we are looking to find ways to be able to continue to do business with each other,” he said.
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