This aerial photo taken on Nov. 5, 2022 shows a view of the Yangpu international container terminal in the Yangpu Economic Development Zone, south China's Hainan Province. After exceeding 100 billion yuan (about $14.92 billion) for the first time in 2021, the total import and export value of Hainan Free Trade Port exceeded 200 billion yuan (about $29.84 billion) to reach 200.95 billion yuan (about $29.98 billion) in 2022, an increase of 36.8 percent. (Xinhua/Pu Xiaoxu)

The new roundtable meeting system established for foreign-funded enterprises by China’s Ministry of Commerce (MOFCOM) won’t have any pre-set constraints, as it encourages foreign-funded businesses to speak openly, serving as a channel for them to freely express their views and concerns, a MOFCOM spokesperson said at a press briefing on Thursday.

Based on the foreign trade and foreign investment coordination mechanism, MOFCOM in July set up the foreign investment enterprise roundtable meeting system. It has convened a few dedicated roundtable meetings with foreign-funded enterprises in Shanghai.

The meeting could focus on various topics. Participating companies range from Fortune 500 and leading companies in key sectors, to small and medium-sized tech startups and incubation platforms, the ministry spokesperson He Yadong said.

He revealed that foreign chambers of commerce and foreign-funded enterprises have a strong desire to enhance communication through the new mechanism. 

China will continue to strengthen implementation of foreign investment policies, improve services, and further expand opening up to the world, Chinese Commerce Minister Wang Wentao said in interview with China Media Group (CMG) released on Thursday.

“Throughout this year, my colleagues and I have engaged in in-depth face-to-face discussions with many top executives from multinational corporations visiting China, including Corning Inc, Procter & Gamble, Mercedes-Benz, Apple, Swire Group, Nestlé, and others,” Wang said. 

“We have also hosted multiple seminars and roundtable meetings for foreign-funded enterprises to thoroughly learn the demands of and challenges faced by these companies,” Wang said.

What the executives have mentioned most is that they attach great importance to the Chinese market. With immense scale, strong innovation potential, and continuous improvement in business environment, these companies have a positive outlook on China's development prospects and are eager to establish a long-term presence in the country, Wang said, noting that it was his most profound impression from the meetings.

And the second most prominent impression is the firms’ desire for “stability,” as executives especially look forward to maintaining stability of economic and trade relations between China and the US, as well as between China and Europe, which are crucial to the development of all enterprises, he noted.

In the first three quarters, China's manufacturing sector saw a year-on-year growth of 2.4 percent in actual foreign direct investment (FDI) utilization. Notably, the high-tech manufacturing sector recorded significant growth of 12.8 percent in inbound investment. While within the high-tech services sector, foreign investment in research and design services field grew by 10.2 percent, data from the Ministry of Commerce showed.

Based on the foreign trade and investment coordination service mechanism, Wang pledged efforts to further improve the system of roundtable meetings for foreign investment enterprises and will maintain regular communication with those enterprises and foreign chambers of commerce.

Efforts will also be made to improve a complaint mechanism for foreign-funded enterprises so as to effectively resolve the challenges and issues encountered by the enterprises in their development in China, ensuring that these firms not only have the confidence to invest in China but can also establish a secure and long-lasting presence in the country, Wang said.

“China’s modernization is characterized by shared prosperity for all Chinese people. We also welcome businesses from around the world to share in the dividends of the Chinese market, making the country a consistently attractive and welcoming destination for foreign investment,” he noted.

From implementing reforms and opening-up 45 years ago to joining the World Trade Organization 22 years ago, from constructing free trade zones 10 years ago to hosting the China International Import Expo five years ago, China’s steps toward openness have never stopped, Chinese Foreign Ministry spokesperson Wang Wenbin said at a regular press conference on Tuesday.


Global Times