BUSINESS China sees no large-scale exodus of Japanese investors: MOC


China sees no large-scale exodus of Japanese investors: MOC


09:37, December 11, 2020

People shop at an Uniqlo's retail store in East China's Shanghai, Aug. 28, 2020. (File photo: Xinhua)

BEIJING, Dec. 10 (Xinhua) -- Most Japanese companies in China have no plans to withdraw from the Chinese market, the Ministry of Commerce (MOC) said on Thursday.

In response to a media report, MOC spokesperson Gao Feng said that a survey conducted in April by the Japan External Trade Organization showed that 91.7 percent of Japanese companies operating in south China said they had no plans to transfer their businesses out of the country. The figure was up 6.9 percentage points from the February survey.

China has an ultra-large market, complete industrial supporting capacity, sufficient human resources and good infrastructure, said Gao, adding that the so-called "reducing reliance on China" does not conform to market laws and will not become the basis on which enterprises make investment decisions.

From January to October this year, of 29,500 foreign-invested enterprises newly established in China, 604 came from Japan, with their investment reaching 20.26 billion yuan (about 3.09 billion U.S. dollars), official data shows.

China will further open up its market, enhance services for foreign-invested firms in areas such as supporting the industrial chain, industrial transformation and upgrading, and strive to build a market-oriented, law-based and world-class business environment, said Gao.

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