CHINA remains the best supply chain partner for many multinational businesses, with many holding favorable views of China’s latest policy measures related to foreign investment and attending major expos in China, deputy head of China’s top trade promotion agency said on Monday, while slamming the US and EU’s restrictive measures against China.
Highlighting many multinationals’ solid confidence in the Chinese market, a pair of upcoming major import and supply chain expos in China have attracted a significantly higher number of foreign participants, according to official data. Meanwhile, some global industry leaders such as Intel and Apple have recently moved to or vowed to expand their operations in the Chinese market.
Foreign businesses’ unrelenting enthusiasm for the Chinese market despite foreign media slander against China’s business environment is the result of China’s strong economic prospects and its continuous opening-up policy, and further laid bare the fact that the US’ decoupling policy has failed to gain broad support from businesses, Chinese experts told the Global Times on Monday.
A recent survey of more than 400 major foreign companies conducted by the China Council for the Promotion of International Trade (CCPIT) showed that 64.9 percent of participants hold favorable views toward the supportive effects of foreign capital-related policies introduced by China’s central government, and 66.6 percent hold favorable views toward those issued by local governments, Zhang Shaogang, deputy head of the CCPIT, told a press conference on Monday.
“This fully demonstrates that foreign companies continue to be optimistic about the Chinese market, and China is still their best supply chain partner in allocating resources globally,” Zhang said at the press conference on preparations for the CISCE.
The CISCE, the world’s first supply chain-themed exhibition, is scheduled to take place in Beijing from Nov. 26 to 30. The expo is set to attract guests from more than 100 countries and regions and over 10 international organizations.
Before the opening of the CISCE, China will kick off the China International Import Expo (CIIE), one of the world’s largest import-themed expos, in Shanghai from Nov. 5 to 10, with a record number of global industry leaders set to attend.
This year’s CIIE will be attended by 3,496 vendors from 129 countries and regions and the number of Fortune Global 500 companies and industry leading companies participating in the exhibition reached 297, a record number, according to the Ministry of Commerce last week.
“The attractiveness of the CISCE and the CIIE essentially epitomizes China’s attractiveness among investors with the country’s vast potential for investment and market growth,” Huo Jianguo, a vice chairman of the China Society for World Trade Organization Studies in Beijing, told the Global Times on Monday.
Huo noted that China has recently taken a slew of measures to further open up more sectors for foreign businesses and to further optimize the business environment, while the Chinese economy has also maintained overall stable growth. “In short, there are two factors behind foreign businesses’ confidence in China: One is they think there is profit to be made in investment in China, and the other is a stable and favorable business environment.”
Among the slew of opening-up measures in various sectors, China’s Ministry of Industry and Information Technology on Wednesday launched a pilot program to expand opening-up in value-added telecom services in four designated areas in Beijing, Shanghai, South China’s Hainan Province and Shenzhen, South China’s Guangdong Province.
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