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Chinese FM Spokesperson: Foreign Capita In-flow Demonstrates Confidence
in China's Economic Prospect

2020-12-17

 

Journalist: The Ministry of Commerce released data yesterday that paid-in foreign investment in China has increased for the eighth consecutive month. Many foreign media and agencies believe China’s growth trend is good for the world economic recovery. Do you have any comment on this?

Wang Wenbin: Authoritative international economic agencies have been projecting that China will be the only major economy to achieve a positive growth rate this year. You just mentioned that foreign capital keeps flowing into China, I believe it demonstrates the confidence in China's economic prospect and the outcomes of fostering a new development paradigm and expanding opening up. Since the beginning of this year, China has been comprehensively implementing the Foreign Investment Law and its implementation regulations. The negative lists for pilot free trade zones have been shortened from 190 items in 2013 to 30 now, financial market access has been steadily eased, and a master plan has been drawn up for the development of the Hainan Free Trade Port, which will open up broad space for China’s economic development and inject strong impetus into global economic recovery. China has become the biggest trading partner for ASEAN, the EU and the United States. In the first three quarters of this year, China's non-financial outbound direct investment to countries along the BRI routes recorded a year-on-year increase of 29.7 percent. The third China International Import Expo records higher intended deals of $72.62 billion. The OECD Economic Outlook estimated that China will account for over one-third of world economic growth in 2021.

As China opens its door wider to the world, it will create more opportunities for mutually beneficial cooperation with other countries and make greater contributions to the stability and prosperity of a post-COVID world.

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