To invest in China is to win the future: spokesperson

(ECNS) -- During the China Development Forum 2024 that was held on Sunday and Monday, global business leaders and practitioners spoke favorably of China’s economic prospects, saying they would continue to invest in the country.

"Their confidence stems from the steady and sustained growth of China’s economy and high-quality development," said Chinese Foreign Ministry spokesperson Lin Jian at a press conference on Tuesday.

Partnering with China means more opportunities, while to invest in China is to win the future, the spokesperson said.

"China is advancing its modernization on all fronts and developing innovation-driven new quality productive forces at a faster pace. This will bring Chinese and foreign investors infinite market opportunities and broad development prospects," he added.

Zooming in on China, IMF managing director Kristalina Georgieva saw a new era of high-quality growth. Georgieva believes China will continue to be a key contributor to global economic growth.

President of the Asian Development Bank Masatsugu Asakawa said China’s solid advance has been a primary contributor to growth in Asia and the Pacific, and that looking ahead, the country would experiencea stable growth trajectory in 2024.

Some Fortune 500 executives called China the world’s manufacturing hub, the second largest consumer market, and one of the most innovative frontier markets, Lin said.

“Their confidence stems from the steady and sustained growth of China’s economy and high-quality development. It’s also backed by China’s super-sized market, complete industrial system, high-caliber labor force, and world-class, as well as market-oriented business environment governed by a sound legal framework,” Lin said.

Last year, China announced 24 measures to stabilize foreign investment and took the lead in aligning five free trade zones and the Hainan Free Trade Port with high-standard international economic and trade rules on a pilot basis. The 2024 Chinese government work report mentioned that all market access restrictions on foreign investment in manufacturing will be abolished, and market access restrictions in services sectors, such as telecommunications and healthcare, be reduced.

The State Council has published an action plan to steadily promote high-standard opening up, as well as attract and utilize foreign investment via broadening market access and facilitating innovation flow, Lin stated.

He cited statistics from the Ministry of Commerce which said that in January and February this year, 7,160 foreign-invested companies were established in China, marking a year-on-year increase of 34.9 percent, a record high in the past five years.

Companies from all countries are welcome to invest and flourish in China, and add new stories to the reservoir of mutually beneficial cooperation between the nation and the rest of the world, he concluded.