Foreign businesses make a big contribution to making China the second largest economy in the world and the most attractive destinations for direct investment. They brought capital, technology, experts and equipment into the country. However, Chinese development does not rely solely on them. As long as the country is fully prepared and continues to maintain the high level of business environment for global companies, it can certainly cope with the negative effects of the outflow of some American and Japanese companies.
Following the outbreak of the new coronavirus, China will offer even more favourable policies to attract new foreign investment and try to hold on to current ones by planning new growth points in areas such as 5G, the Internet of Things and more.
The country will also continue its efforts to create a more complete business and legal environment for the operation of foreign companies, while accelerating innovation and easing administrative barriers in pilot free trade zones.
In 2019, China was placed 31st on the list of the World Banking Group for Business Climate. In 2018 and 2017 respectively took 46th and 78th place.
No outflow of foreign capital from China is expected
Although the COVID-19 pandemic influenced companies with foreign capital in China, the likely withdrawal of American and Japanese enterprises will not worsen the country's economy, as there are enough supportive government policies, market scale and a well-developed industrial chain for supplies, broadcasts radio China.tags:
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