Yu Yong, Party Secretary of the CPC Jing'an District Committee visits Shanghai office of Bain & Company on July 5, 2023. Photo: Official WeChat account of Bain & Company

A Shanghai district official recently visited Bain & Company there, a US-based management consulting firm, to learn about the company's operations in the city and vowed to further improve services and business environment for international firms.

The visit by Yu Yong, Party Secretary of the CPC Jing'an District Committee, following recent foreign media hype over Chinese law-enforcement visiting Bain and other foreign consulting firms, reflected China's efforts to improve business environment for foreign firms operating in China, experts said. 

During the meeting with local Bain representatives, Yu got to know the operation of the company, gaining a comprehensive understanding of the company's business operations, its core business, its involvement in social activities, the company said in a statement on Tuesday.

In addition to listening to the company's business report, the official discussed its business plan, aiming to promote the company's efficiency and steady progress in Shanghai. Yu pledged to provide better service for foreign-funded companies.

"We will adhere to the enterprise-oriented approach, continue to do a good job in our services, and create a first-class business environment, and be a partner for the development of the enterprises," Yu said.

"The visit by the Shanghai official demonstrates the importance we attach to the business environment concerning foreign investors in China," Huo Jianguo, vice chairman of the China Society for World Trade Organization Studies in Beijing, told the Global Times on Tuesday, noting that it reflects the Chinese government's constant effort to support foreign investments.

The visit came two months after foreign media reported in April that local police "conducted a surprise search" at Bain's Shanghai office and "questioned its employees". 

In response, China's Foreign Ministry spokesperson Mao Ning said on April 28 that companies of all countries and regions are welcome to engage in economic and trade cooperation in China.

"We are committed to fostering a market-oriented, law-based and world-class business environment. China is a law-based country. All companies in China must operate in accordance with the law," Mao said.

"China is making efforts to improve the business environment and actively studying policies to ensure the stability of foreign investment. Some foreign media outlets claimed that the current business environment in China is unfavorable and that foreign enterprises have significant concerns. But the actual situation is totally different from those claims," Huo noted.

With the strong support and services provided by the Jing'an District, Bain has been accelerating business development, while being committed to promoting regional economic growth, Han Weiwen, managing partner of Bain's Greater China office, said while meeting with Yu.

Han stated that Shanghai is a highland and window for China's opening to the outside world, and Jing'an District has always been at the forefront of attracting high-quality foreign investment and enterprises.

In a recent meeting with representatives from 12 global companies, including GE Healthcare, Bayer, AstraZeneca, and Pfizer, China's Minister of Commerce Wang Wentao stressed that the Chinese government considers attracting foreign investment to be of great importance and will continuously strive to improve business environment.

Wang said that China is comprehensively promoting its own modernization and steadfastly advancing a high-level opening-up, which will bring more development opportunities for foreign enterprises.

The China Council for the Promotion of International Trade released the "Research Report on China's Foreign Investment Business Environment in the First Quarter," showing that more than 90 percent of the interviewed foreign companies expect their investment profits in China may remain flat or increase in the next five years.