China's foreign direct investment inflows are expected to hit a new record in 2023 and will probably rank first in the world, experts said on Wednesday.
This is because the country's FDI surge against headwinds last year has indicated foreign investors' strong confidence in the Chinese economy, while the government's ramped-up policy efforts are expected to boost economic recovery and expand FDI inflows into key industries, inland regions and major projects, they said.
Their comments came as the Ministry of Commerce said the country's FDI in actual use hit more than 1.23 trillion yuan in 2022, up 6.3 percent year-on-year. In US dollar terms, the figure was 189.13 billion, up 8 percent year-on-year.
【资料图】
The performance was better than expected, given the domestic and external challenges, especially the growth rate for the manufacturing industry and major foreign investment projects — those with contractual foreign investment of more than $100 million each — being 46.1 percent and 15.3 percent, respectively.
"Amid subdued global FDI sentiments, the robust FDI growth last year indicated foreign investors are upbeat about the supersized China market and its improving business environment," said Wei Jianguo, a former vice-minister of commerce and vice-chairman of the China Center for International Economic Exchanges.
"China will become more attractive to them, with the wider opening-up and the anticipated rebound in its economic activity following optimization of the COVID-19 measures," he added.
Wei predicts FDI will grow at two digits to probably reach $220 billion to $230 billion in 2023, surpassing the United States, as the latter faces economic slowdown — and even a recession. China was the second-largest FDI recipient in 2021, behind the US, according to the United Nations Conference on Trade and Development.
In a circular released recently, the State Council said that China will support foreign-funded research and development centers, so that they can use large scientific research instruments, as well as reports and relevant data of major national science and technology programs, in accordance with Chinese laws.
Analysts have widely attributed China's robust FDI performance to the combined effects of the country's policy efforts and economic upgrade and expansion, which, they say, have largely offset disruptions from the epidemic and geopolitical issues.
As consumer activity recovers amid decreasing COVID-19 disruptions and concerted policy steps are made to prop up infrastructure investment and stabilize the property sector, China's economy is likely to see a robust rebound this year to further shore up FDI, they said.
Zhang Shaogang, vice-chairman of the China Council for the Promotion of International Trade, said, "China's new round of reform and opening-up will encourage global companies from the high-end manufacturing sector to further transform traditional industries with smart manufacturing technology in the country.
"Its industrial ecosystem and digitalization initiatives will play a crucial role in shaping the future in areas such as connected products, electric vehicles and clean power generation."
Considering that major FDI projects have high-standard industrial support system requirements, such as talent and industrial chains, Zhou Mi, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation, said the FDI data last year showed that foreign investors are bullish on China's economic prospects and are placing more key links of their industrial chains in the country.
According to CCIEE vice-chairman Wei, capital, technology and talent will accelerate moving into East Asia, and China's growing, supersized domestic market — driven by its economic expansion, stabilizing property sector and increase in people's dispensable incomes — will become even more attractive to foreign investors, who nowadays tend to keep a short physical distance between product and service providers and consumers to cut costs and avoid supply chain uncertainties.
The National Development and Reform Commission said on Wednesday that China will improve implementation of its FDI policies and guide FDI into high-end manufacturing, modern services, high-tech and environmental protection industries, and central, western and northeastern regions.
It also vowed to expand, in an orderly manner, opening-up in telecommunication, internet, education, culture and healthcare industries, remove restrictions outside the negative list and ensure equal policy implementation for foreign-funded enterprises as Chinese ones.
Shen Bo, senior vice-president of Dutch semiconductor equipment manufacturer ASML and president of ASML China, said that brands that originated from China play an increasingly important role in major semiconductor markets, which ensures the long-term prospects of the semiconductor industry in the country.
ASML currently employs more than 1,500 people in the Chinese mainland, and it will continue to expand team and attract talents in China, he said.
By LIU ZHIHUA and ZHONG NAN | CHINA DAILY
- Country's FDI inflows expected to achieve record high
- 每日视讯:West's smearing of BRI as 'debt trap' won't help developing countries
- 一个外贸精英的自述:科大讯飞智能录音笔帮了我的大忙
- ETF观察丨董事会换届完成广誉远涨停 中医药ETF(561510)、中药ETF(159647)涨超1%
- 每日短讯:上市公司出海融资忙!超40家宣布筹划发行GDR 流动性问题何解?
- 焦点资讯:持续“爆买”大消费、大金融和新能源 北向资金开年以来累计净买入额超去年全年
- 急!这些职业“最缺工”!
- 哈工智能:公司股票自2023年1月19日开市时起停牌
- 科技引领,创新发展丨华缆科技集团通过“高新技术企业”认定
- 甲苯是什么?甲苯的化学名称是什么?
- 新疆知名药企再次拍卖引发业内质疑-国有资产处置何去何从
- 儿童舞台妆怎么化?怎样画儿童舞台妆?
- 乌组词有哪些?带有乌字的成语是什么?
- 环球观点:农村防疫见闻|医疗资源进村入户 群众健康有依靠
- 快讯|2022年湖南民生支出占比达70%以上
- 春节返乡 这样防护(服务窗·科学防疫)
- 2023年1月智能汽车研究月报
- 看热讯:快讯丨2022年湖南粮食产量连续三年保持在600亿斤以上
- 既帮抗新冠 又助解心病
- 每日消息!“金牙银眼”集采启动,掀起“天价”种植牙的冰山一角