The second phase of a $1-billion investment project between Suzhou Industrial Park and Germany-based BOSCH, a major automotive technology supplier in the world, has broken ground, with operations expected to start in the fourth quarter of 2025. Photo：Suzhou Release

No matter how the external environment may evolve, China remains firmly committed to high-standard opening up and always welcomes companies from all countries to keep investing in China and explore the Chinese market to enjoy benefits and development together, Chinese Foreign Ministry spokesperson Mao Ning said on Thursday, noting growing foreign investment in China.

Official data shows that the by the end of 2024, foreign enterprises have invested and established nearly 1.24 million companies in China, with paid-in foreign capital reaching 20.6 trillion yuan ($2.85 trillion).

Last year, there were nearly 60000 new foreign-funded companies, up by 9.9 percent year-on-year. In the past five years, the rate of return on FDI in China is nearly 9 percent, ranking among the top across the globe. Statistics show that China remains an ideal destination for foreign investment and many foreign companies are optimistic about China's growth prospects, Mao said.

In a document sent to the Global Times, Yin Zheng, Executive Vice President of Schneider Electric's China & East Asia Operations, said the China's marked progress in developing new quality productive forces, in digitalization, and, in green production capacity will create broader opportunities for the company. 

China has become Schneider Electric's second-largest market and a major component supplier. Schneider Electric plans to further strengthen its "China-centered" strategy by boosting research and innovation, helping to upgrade Chinese industries while delivering China-driven benefits to the rest of the world, Yin said.

On Monday, Chinese Commerce Minister Wang Wentao met with Bristol Myers Squibb (BMS) Board Chair and CEO Christopher Boerner, who reaffirmed the company's 40-year commitment to improving healthcare in China. 

Boerner said the company is committed to expanding BMS's investment in China and deepening collaboration with local Chinese partners under the principle of 'in China, for China, for the world,' ensuring stable, high-quality products and services for Chinese consumers.

In a separate meeting, Hemione Hudson, Chairman and CEO of PricewaterhouseCoopers (PwC), told China's Vice Minister of Commerce Ling Ji that China's action plan on stabilizing foreign investment has bolstered the confidence of global investors. 

Hudson reaffirmed PwC's commitment to leveraging its global network and expertise to help attract more international capital to China, while supporting Chinese businesses looking to invest in the UK.

Last month, China issued the 2025 Action Plan for Stabilizing Foreign Investment, putting forward 20 new measures on expanding self-initiated opening-up in an orderly manner and improving the level of investment promotion, Mao said.

It is put forward clearly in this year's Government Work Report that we will ensure national treatment for foreign-funded enterprises in fields such as access to production factors, license application, standards setting, and government procurement, thus enabling foreign-funded enterprises to achieve even greater business success in China, Mao added.

In line with this commitment, the People's Bank of China (PBC) and the State Administration of Foreign Exchange announced on Thursday the expansion of pilot policies for integrated RMB and foreign cash pooling in selected Chinese provinces and cities including Tianjin, Hebei, Fujian, and Shandong. 

The move enhances cross-border fund flexibility, allowing companies to manage RMB and foreign currencies through domestic main accounts and set their own external debt and overseas lending ratios under the macro-prudential principle, according to PBC's official website.

The central bank and the State Administration of Foreign Exchange will intensify efforts to promote institutional opening-up, expand cross-border fund management, and enhance trade and investment facilitation to support high-quality economic growth.

Global Times