Shu Jueting

A number of foreign companies are planning senior executives' visits to China, promoting the resumption of relevant projects and seeking new investment opportunities in China after the country optimized its epidemic prevention measures, the Ministry of Commerce (MOFCOM) told a press conference on Friday.

China's move to optimize and adjust its epidemic prevention and control measures has been widely welcomed by foreign enterprises and foreign business associations in China, MOFCOM spokesperson Shu Jueting said at the press conference.

Many of them said that the optimized measures are "very timely and encouraging," "have solved the major problem of foreign nationals coming to China" and "made their development expectations in China more stable," Shu said.

Shu noted that MOFCOM attached great importance to foreign enterprises' operations in China and have conducted one-on-one visits to foreign-funded enterprises and associations to explain China's latest epidemic prevention policies.

The British Chamber of Commerce in China told the Global Times in a recent interview that it welcomes the recent changes to China's pandemic control measures and is encouraged by the government's decision to open up and ease travel restrictions.

"This will facilitate the much-needed exchanges between their UK headquarters and China operations, increase headquarters' understanding of the Chinese market as well as increase the willingness of international talents to re-consider China as a work destination," the chamber said in a statement sent to the Global Times.

As part of the policy shift, China will downgrade the management of COVID-19 from Class A to Class B and ease COVID-19 travel restrictions from January 8.

A number of foreign companies expressed optimism about the prospects of China's economic development, according to a survey conducted by the China Council for the Promotion of International Trade (CCPIT) on 160 foreign companies and chambers in December.

According to the poll, 91 percent of foreign enterprises and business associations surveyed strongly support the optimization of epidemic prevention and control policies and 99.4 percent are confident of the prospects of China's economic development in 2023.

98.7 percent of the surveyed foreign companies said they would maintain and expand their investment in China, while 89.8 percent said they would maintain their industrial chains in the country, according to the survey.

The foreign companies surveyed believe that China's economy is resilient and competitive in terms of market potential, industrial systems, infrastructure and business environment, CCPIT said.

China's foreign direct investment totaled $178.08 billion in the first 11 months of 2022, an increase of 12.2 percent year-on-year, according to MOFCOM.

 "We will continue to expand market access for foreign investors, ensure fair treatment for foreign companies and create more convenient conditions for foreign investment in China," Shu said.