CHINA China still favored by investors, tariffs not a concern: FM

CHINA

China still favored by investors, tariffs not a concern: FM

People's Daily app

14:10, May 15, 2019

China has become one of the most popular destinations for global investment for many consecutive years, said China’s Foreign Ministry spokesperson Geng Shuang at a regular press conference Tuesday.

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(File Photo: CGTN)

Enormous achievements have been made in economic and social development in China over the past four decades of reform and opening up, Geng said.

The US claimed that China will be hurt very badly if it doesn't make a deal because companies will be forced to move to other countries.

The spokesperson listed many examples to refute the US claim.

Geng said that according to the World Bank's Doing Business 2019 report, China has moved up over 30 places in the ease of doing business ranking.

Around 80 percent surveyed business representatives said the investment environment in China has improved or stayed the same; 62 percent ranked China as the first or top-three investment destinations worldwide, according to the 2019 Business Climate Survey released by the American Chamber of Commerce in China.

Latest statistics from relevant Chinese authorities show that the number of foreign companies newly set up in China in 2018 topped 60,000, up by 69.8 percent.

Geng said that despite threats from the US to impose additional tariffs on Chinese goods over the past year, the biggest US oil company Exxon Mobil still decided to set up a wholly-owned large-scale petrochemicals project in September last year.

Geng said that Tesla began constructing its first overseas factory in Shanghai in January this year.

“When choosing investment destinations and business partners, enterprises make decisions based on their own interests and market principles rather than empty words from certain persons.

“If you want to know whether China's business climate is good and whether it's profitable to do business here, just look at the American and other foreign enterprises in China. They have cast a vote of confidence with concrete actions,” said Geng.

Geng also stressed that foreign enterprises are welcome to increase their investment in China and we will continue to foster an investment and business environment that is more stable, fair, transparent and predictable for them.

(Compiled by Zhang Jian)

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