China is launching a new system for foreign companies to file complaints, grievances and suggestions, so that the government could redress them promptly, thereby promoting the business climate and drawing in more foreign investment, a senior government official said on Friday.
Addressing a news conference in Beijing, Chen Chunjiang, assistant minister of commerce, said that through the new system, foreign companies can promptly address operational issues, submit suggestions to the Ministry of Commerce online, contact handling personnel for inquiries and track the processing of their requests.
Song Junji, vice-governor of Shandong, said that the gathering of this event will promote economic exchanges between Chinese businesses and global companies and encourage MNCs to invest in advanced manufacturing, modern services, high-tech and green sectors in China.
The country's current advantage is that it is at the forefront of numerous groundbreaking technological advancements that have a wide range of prospects for the future. This bodes well for the country's manufacturing industry, said Gu Xueming, president of the Chinese Academy of International Trade and Economic Cooperation.
China's ongoing industrial upgrading and green transformation will enhance its competitive advantage and foster a welcoming environment for foreign firms to invest in a variety of sectors, such as digitalization, high-tech manufacturing and innovation, he said.
As China has heightened its emphasis on expanding its openness in the areas of trade in services, green sustainability and digital transformation, the French multinational Schneider Electric has signed a strategic cooperation deal with Sunshine Pump Co Ltd in Shanghai earlier this week to improve its production efficiency and quality, optimize energy-saving and reduce carbon emissions.
Schneider Electric's senior vice-president, Pang Xingjian, said the interdependence of digital acceleration and sustainable development as long-term strategies is good for industrial businesses. The foundation of sustainability is built on digitalization, while sustainability, in turn, provides fresh opportunities and momentum for further digitalization in China.
In the first eight months of the year, foreign direct investment or FDI in China's manufacturing industry grew by 6.8 percent year-on-year to 239.95 billion yuan. Data from the Ministry of Commerce showed FDI in high-tech manufacturing grew nearly 20 percent year-on-year.