A view of Shanghai, China's major financial hub and destination for foreign investment Photo:VCG

China attracted a record-breaking foreign investment of $189.13 billion in 2022, up five percent year-on-year, according to the World Investment Report 2023 released by the United Nations Conference on Trade and Development (UNCTAD), which showed solid global confidence in China's economy, a Chinese official said on Monday. 

The data showed the great potential and attractiveness of the Chinese market to global investors, Mao Ning, spokesperson for the Chinese Foreign Ministry, said during a regular press briefing on Monday. Mao also noted that the growth of China's inbound foreign investment, which runs counter to the global trend, reflects the world's confidence in China's economic prospects.

Since the beginning of 2023, executives of multinational corporations have started a trend of back-to-back visits to China, demonstrating their willingness to further explore and invest in the Chinese market, Mao stated. 

"I believe this is due to the enormous size of the Chinese market, the sophisticated industry system, and the abundant talent reserves. It also demonstrates China's improving business environment and investment facilitation," Mao added.

Mao emphasized that China both benefits from and contributes to economic globalization and investment facilitation. During the press briefing, Mao also highlighted the announcement made by WTO members regarding the text of the Investment Facilitation for Development Agreement on July 6. 

This agreement, the world's first multilateral investment agreement, will further boost global investment growth, Mao said. "During the negotiation, representatives from China made 15 formal proposals and offered practical solutions to multiple issues under discussion," she added.

Mao reaffirmed China's commitment to providing the world with more market opportunities, investment opportunities, and growth opportunities through its own development. China will continue to work together with all parties to build an open world economy, she said. 

Global Times