The summer Seminar for investment Experts of the Expert Committee of the International Investment Forum was successfully held on July 8, 2020. The theme of the seminar was to revitalize investment information and promote win-win cooperation. Professor Sang Baichuan, dean of The School of International Economics, UIBE attended and delivered a keynote speech.
Professor Sang Baichuan, dean of the School of International Economics at the University of International Business and Economics, said: In recent years, although the utilization of foreign capital has performed well in the growth process, in fact, the overall scale of our utilization of foreign capital is still very small. One statistic shows that the share of FDI in China's total investment has been declining for ten years since 2010. In terms of the proportion of foreign direct investment in fixed asset investment, China is lower than the world average and much lower than the average of developing countries. In terms of the stock of foreign direct investment as a proportion of GDP, we are also quite low. From the perspective of FDI relative to GDP, the overall level of foreign investment is relatively low compared with the scale of China's GDP, which is a basic conclusion.
In the future, as we continue to expand market access and opportunities for foreign investment, increasing the scale of foreign investment will remain an important consideration. During the 14th five-year Plan period, we will focus on high-level development. In terms of the utilization of foreign capital, we also pay attention to the quality improvement and scale expansion of foreign capital. But now the actual situation is the withdrawal of stock foreign capital and the increase of incremental foreign capital coexist, the growth of high-end manufacturing foreign capital and the decline of low-end manufacturing foreign capital coexist. In the future, while striving to improve the business environment, we should focus on reducing costs, including reducing administrative costs, logistics costs and various factor costs, so as to release the advantages of the large market. The high factor cost and high administrative cost will affect the advantage of big market, the scale expansion of foreign investment and the stability of foreign investment. In this context, considering the changes in the global economic pattern and the STRATEGIC move of the United States to decouple from China, which has disturbed the global investment pattern, China must focus on reducing costs, expand foreign investment and expand outbound investment on this basis.
