In the first half of the year, China absorbed 478.3 billion foreign investment

As one of the "troikas" driving China's economy, investment has always been the main driving force of economic development. In the first half of the year, China's foreign capital absorption reached 478.33 billion yuan, an increase of 7.2% over the same period last year. The Ministry of Commerce announced recently that about 490 of the world's top 500 companies have invested in China. At the same time, the pace of internationalization of Chinese enterprises has accelerated. The number of Fortune's top 500 companies in China has increased continuously, with 11 listed in 2001 and 129 in 2019.

China's business environment continues to improve

98% of the world's top 500 enterprises invest in China, which means that the Chinese market is still an important participant in the global industrial chain and value chain. Official data show that even in the context of continuing economic and trade frictions between China and the United States, China remains strongly attractive to investors. In the first half of this year, the amount of foreign investment absorbed reached 478.33 billion yuan, an increase of 7.2% over the same period last year. In 2018, global cross-border investment declined as a whole, and China's foreign investment absorption has not declined, on the contrary, reached an all-time high. From a regional perspective, the Yangtze River Economic Zone, especially the Yangtze River Delta region with strong economic comprehensive strength, is becoming a hot spot for foreign enterprises to "bet". From the perspective of industry, foreign capital is shifting from manufacturing industry to service industry, from labor-intensive manufacturing industry to high-tech manufacturing industry.

Vice Minister of Commerce Qian Keming pointed out that the Chinese government attaches great importance to mutually beneficial cooperation with transnational corporations and to listening to the voices of transnational corporations. In the future, China's policy orientation of encouraging the use of foreign capital will remain unchanged. China will also provide more investment opportunities for multinational companies and create a more stable, fair, transparent and predictable investment environment. On the one hand, China has drastically reduced its negative list and promoted the opening up of modern services, manufacturing and agriculture, including the financial sector, according to Qian Keming. Manufacturing industry has been highly open, and since last year it has further expanded its openness. On the other hand, we should take the initiative to reduce tariffs. At present, the total tariff level has been reduced to 7.5%, which is much lower than that of most developing countries. It is close to the level of opening up of developed countries and developed markets. This year's Foreign Investment Law has created a more stable, transparent, predictable and fair market environment for foreign investors.

The average monthly residence of Hubei Province in two top 500 countries of the world

For a long time, the global economy has been depressed, the uncertainties affecting economic growth have increased, the downward pressure of the economy has been increasing, and the growth in the field of investment has been stagnant or even negative growth, which is a common problem in the world, while China's economy has always been operating in a reasonable area. Meanwhile, investment shows a good momentum of sustained and stable growth. Economic experts pointed out that the world's top 500 companies are optimistic about China, and their enthusiasm for investment in China continues to rise, and their scale continues to expand. A high degree of investment consensus and common investment orientation are both inevitable and of clear vane significance. Over the past 40 years of reform and opening-up, China's economic and social development has made remarkable historical achievements. With the deepening of reform and opening-up, transnational corporations have not only brought capital, technology and management experience to China, but also opened up a vast market, obtained great returns and tasted the reality in China. Sweet in here. According to statistics, by the end of June this year, 296 top 500 enterprises had invested in Hubei Province, an increase of 16 compared with last year, of which 196 were overseas top 500 enterprises, ranking first in the central region. In the first half of this year, the growth of the world's top 500 has exceeded that of last year, with an average increase of more than two in a month.

"Facing the great historical opportunity of opening up in the new era, we should establish the consensus of"opening up strong provinces", firmly establish the concept of"seeking openness is seeking development", and unswervingly promote high-quality development with high-level openness." Chen Huarong, deputy director of the Department of Commerce of Hubei Province, said that from hundreds of thousands of dollars a year in the early 1980s to an average of one billion dollars a year in the 1990s, and then to $11.9 billion in 2018, the use of foreign capital in Hubei Province has increased steadily from small to large. By the end of 2018, 14771 foreign-invested enterprises had been set up in the whole province, with the actual use of foreign capital of 98.15 billion US dollars, ranking first in the central region. With China's economy changing from high-speed growth stage to high-quality development stage, China's opening-up pattern is changing from eastern coastal opening to inland full-scale opening, from "import-oriented" to "import-oriented" and "go-out" two-way opening.