We learned that BMW and a number of multinationals are increasing investments to China this year, which demonstrates that FIEs remains confident about the Chinese market and the long-term prospect of operations in China. To further improve the investment environment for FIEs, MOFCOM has established a task force that can play a coordinating role in strengthening services and support to key foreign-invested projects in China, and help businesses resolve difficulties in project implementation. In the first five months of this year, paid-in investment of big projects with over 100 million dollars of contractual value reached USD47.68 billion, up by 40.3% year on year, accounting for 54.3% of the actualized FDI in this period.

To implement the policy package to stabilize economy, MOFCOM has recently issued guidelines on enhancing services for key foreign-invested projects and on attracting foreign investment, with focus on four areas. First, building and improving local task forces for key foreign-invested projects, and strengthening services for key foreign-invested projects and enterprises in a targeted manner. Second, establishing a dynamic update mechanism for national key foreign-invested projects, guiding local authorities in identifying projects worth over US$100 million, and producing a new list of national key foreign-invested projects. Third, stepping up services in all respects, strengthening provincial-level coordination, meeting the reasonable needs of key foreign-invested projects for factors of production, and protecting the lawful rights and interests of investors. Fourth, further improving investment promotion and fostering a better investment and business environment, by stimulating greater local efforts to leverage the supportive role of opening-up platforms, facilitate business trips and fully tap into relevant policy support. Thank you.