An undated photo shows the central business district of CBD in Beijing, China. PHOTO IC Vice-Premier He Lifeng said on Tuesday that the healthy development of the Chinese economy and the advantages of its super-large market offer broad prospects for foreign companies investing in the nation.
He made remarks at the launch of the Invest in China Year series of investment promotion events in Guangzhou, Guangdong province.
He cited China's upgraded domestic consumption, industrial transformation, innovation-driven development and coordinated urban-rural regional development as factors bringing opportunities to foreign enterprises.
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With the advancement of Chinese-style modernization, the country's more than 1.4 billion people will enter a modernized society and in the coming 15 years, China's middle-income group is expected to expand from 500 million to over 800 million, he said.
He added that China will accelerate its opening-up in fields such as regulations and management standards in line with the highest international standards.
It will issue more policies to facilitate trade and investment, and build a market-oriented, rules-based and international business environment in a sustained manner.
This year marks the 45th anniversary of the opening-up of reform in China. By the end of last year, foreign investment had reached an accumulative total of 19.7 trillion yuan $2.86 trillion.
Foreign investment has played a positive role in China's economic development and helped facilitate the integration of the Chinese economy with the global economy.
Foreign enterprises have shared opportunities in the Chinese market and realized their greater development, he said.
The Ministry of Commerce is responsible for investment promotion events in other parts of China and a number of foreign countries.
He said that the purpose of holding the events is to strengthen communication with foreign investors and to create better conditions for investment by foreign enterprises.
Noel Quinn, Group Chief Executive of international banking group HSBC, said he is strongly confident in China's economic growth prospects and that the country will continue to strengthen cooperation with the international business community.
Quinn said that the international business community wants to invest in China and continue to develop business models for consumption within China and exports from the country to the rest of the world.
There is a strong message of engagement, shared collaboration, working together to solve the economic challenges of today, but also to take advantage of the economic opportunities of tomorrow and in the future, Quinn said.
The Chinese economy is recovering well and I think it's ahead of people's expectations. He said we want to continue to expand our business and continue to invest.
Chairman of ExxonMobil Huizhou Chemical Co, Li Xingjun said that the company's development goals are compatible with China's development plans, and it hopes to have a more active role in the nation's manufacturing sector. He said that it hopes to help China reduce carbon emissions.