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From this January to July, paid-in foreign investment in China increased by 17.3% year-on-year. What are the reasons for the significant investment growth in China by major global economies against the backdrop of world economic downturn?(2022-08-25)

This year, the paid-in foreign investment in China continues to grow, and the Chinese market remains its strong attraction to foreign investors. We believe there are four main reasons:

First, China's comprehensive advantages such as complete industrial system, mega market, social stability and long-term positive economic fundamentals have laid a good foundation for foreign-invested enterprises to develop in China.

Second, the ever-opening market in China provides more opportunities for investment and business development. This year, we implemented a new version of the negative lists for foreign investment market access for nationwide application and for Pilot Free Trade Zones, further easing market access of foreign investors.

Third, we have continuously optimized the business environment, thus enhancing the confidence of foreign-invested enterprises to invest in China. According to the decision and deployment of the Party Central Committee and the State Council, a series of policies and initiatives have been formulated and introduced by localities and relevant departments to stabilize foreign investment and actively respond to the needs of the FIEs, such as business facilitation in China, which has enhanced their sense of fulfillment. Meanwhile, we have organized the removal of regulatory documents that are not in line with the Foreign Investment Law of the PRC, and promoted the repeal, revision and formulation of 520 regulatory documents to further improve the law-based environment for foreign investors. At present, we are actively cooperating with the Standing Committee of the National People's Congress to carry out law enforcement inspection of the Foreign Investment Law, urge the strict implementation of the legal institutions for the promotion, protection and management of foreign investment, and to protect the legitimate rights and interests of foreign investors.

Fourth, we have stepped up efforts in solving difficulties faced by enterprises through services. All localities and departments have firmly implemented the requirements of "epidemic prevention, economic stabilization and development security", and the task force for key foreign-invested projects under the foreign trade and foreign investment coordination mechanism have been playing an active role in establishing and improving the "four mechanisms", including the regular communication mechanism with foreign chambers of commerce and associations, the multilingual information service mechanism for epidemic prevention and control, the express service mechanism, and the rapid response mechanism for epidemic response, in order to help foreign-invested enterprises resume production and operation, and promote the implementation of key projects. The role of large projects in attracting investment has been further developed. Thank you.