China to keep steady absorption of foreign capital in 2013

Seminar on China Investment Policy 2013 was held in Hong Kong on April 23. Vice Minister of Commerce Wang Chao delivered a keynote speech.

Mr. Wang said that the Mainland maintains the comprehensive advantages in foreign capital absorption, and the macro-economy in the Mainland has kept steady development, and the momentum of steady recovery will remain, with the quality and efficiency of economic growth to continue to be improved. Meanwhile, the Mainland has great market potential, with well developed supporting industries, and the capabilities of industrial cluster in key areas was further enhanced, with competitiveness in cost of production factors and sufficient supply of human resources, and the overall quality of labor force have been improved gradually. The overall environment for foreign investment in the Mainland has been constantly optimized, and remains to be one of the principal investment destinations for multinational companies. The absorption of cross-border direct investment in the Mainland has maintained steady development since 2013, showing that international investors are still optimistic about the long-term prospects of investment in the Mainland. The Mainland’s foreign capital absorption will maintain steady development in 2013 despite the current uncertainties in external environment.

Mr. Wang said that the central government has always put foreign capital absorption as an important part of China’s opening up strategy, and has combined foreign capital absorption with China’s economic development goals to release new measures for opening up, improving laws and regulations for foreign investment, and protecting the legitimate rights and interests of domestic and foreign investors and foreign-invested enterprises in accordance with the laws, promoting investment and trade facilitation, and fostering a favorable environment for domestic and foreign investors, and positive results have been achieved. In future, MOFCOM will focus on optimizing the industrial structure of foreign investment, guiding foreign investment to promote balanced regional development and improving investment environment, so as to improve foreign capital utilization constantly.

Mr. Wang hopes Hong Kong enterprises to deepen strategic investment cooperation with Mainland enterprises, and increase investments in the Mainland in such emerging strategic industries as modern agriculture, modern service industry, high-tech, advanced manufacturing, energy conservation and environmental protection and new energy, giving full play to their advantages in such areas as banking, laws, accounting and investment consultation, and speeding up “going global” with the Mainland enterprises, joining efforts with the Mainland enterprises in implementing the innovation-driven strategy, and giving more attention to the strategy of coordinated development of regional economy in the Mainland. He hopes Hong Kong enterprises to further play their advantages to join in trade and economic cooperation, especially investment cooperation among Guangdong, Hong Kong and Macao.

Ms. Ho Shuk-yi, Permanent Secretary for Commerce and Economic Development Bureau of the Hong Kong SAR Government, and Mr. Fred Lam, Executive Director of Hong Kong Trade Development Council, were present at the seminar. The seminar is co-sponsored by the Chinese Ministry of Commerce and Hong Kong Trade Development Council. A total of 400 representatives from the five Chambers of Commerce and relevant industrial organizations and enterprises of Hong Kong attended the seminar.

Source: Ministry of Commerce Website; http://english.mofcom.gov.cn/article/newsrelease/significantnews/201304/20130400105939.shtml

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