China to further open economy for foreign investors

Says country will address concerns of investors, create favourable environment

China Economic Net March 01, 2019
Says country will address concerns of investors, create favourable environment. PHOTO: REUTERS

BEIJING: China will continue its efforts to open up the economy and reduce market access restrictions on foreign investment, said the country's Ministry of Commerce.

"The country will continue to optimise the environment for foreign investment, improve transparency of market supervision and better protect foreign companies operating in China," said Gao Feng, the ministry's spokesman.

In addition, China will strive to address reasonable concerns of foreign investors and create a more favourable investment environment for them, Gao said at a news conference on Thursday.

He made the remarks as an AmCham China report showed that China remains a high priority market for the majority of US companies surveyed, despite trade tensions.

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Fifty per cent of the companies surveyed are optimistic that steps will be taken to open markets further for foreign companies in China - the highest level since the survey was initiated in late 2016, according to the 2019 China Business Climate Survey Report.

Zhang Yansheng, a senior researcher with the Beijing-based China Centre for International Economic Exchanges, said since the introduction of reforms and opening up of economy four decades ago, China has liberalised market access for foreign companies and significantly improved its investment environment.

The rights of foreign investors will be further promoted as China aims to further open key sectors and import high-quality goods and services, Zhang added.

China's draft foreign investment law will be submitted to the plenary session of the 13th National People's Congress, which will open early this month. It is seen as the latest move to promote the opening-up initiative.

On Thursday, Gao also urged the European Union to create an "open, transparent and convenient" investment environment for global investors, including Chinese companies.

This article originally appeared on the China Economic Net


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