Photo taken on Sept. 30, 2020 shows the street view of the Lujiazui area of Pudong, east China's Shanghai.(Xinhua/Wang Xiang)
The Chinese market remains attractive to foreign investment, with the continued growth of foreign direct investment (FDI) inflows, a Ministry of Commerce spokesperson said on Thursday.
FDI in the Chinese mainland, in actual use, expanded 17.3 percent year on year to total 798.33 billion yuan in the first seven months of the year. In U.S. dollar terms, inflows increased 21.5 percent to hit 123.92 billion U.S. dollars.
Spokesperson Shu Jueting attributed China's attractiveness to four factors when speaking at a press conference.
China's advantages, including a complete industrial system, a supersized market, social stability, and positive economic fundamentals in the long run, have created a good foundation for the development of foreign-funded enterprises, Shu said.
Its ever-opening market provides more opportunities, and consistent improvements to its business environment bolster the confidence of foreign businesses, Shu said.
China implemented a new negative list for foreign investment to further broaden market access, Shu said. It also abolished, revised or enacted 520 regulations to improve the legal environment for foreign investment, and ramped up efforts to protect the legitimate rights and interests of foreign businesses.
Work has also been done to help address difficulties faced by foreign firms, Shu said, citing government efforts to help these firms resume production amid the COVID-19 pandemic.