As time passes, some people in the United States and the West have put forward the so-called "China's economy peaking theory." Will this shake the confidence of foreign investors in China?
Recently, the world-renowned management consulting firm A.T. Kearney released the "Foreign Direct Investment Confidence Index 2024 Report," which raised China's ranking from 7th last year to 3rd this year. In the special ranking for emerging markets, China topped the list.
This is not the first time that relevant international organizations or institutions have released reports related to foreign investment in China. According to survey reports released by the American Chamber of Commerce in China (AmCham China) and the European Union Chamber of Commerce in China (EUCCC), 50% of surveyed American companies listed China as their top or top three investment destinations globally, while 59% of surveyed EU companies regarded China as one of their top three major investment destinations. In the words of Alan Beebe, President of AmCham China, many of the world's most advanced manufacturing industries are inseparable from China, making China a long-term investment destination for American companies.
PricewaterhouseCoopers (PwC), one of the Big Four global accounting firms, provides consulting services to many multinational corporations investing in China. The "Global CEO Survey" released this year interviewed over 4,700 CEOs worldwide, revealing that global CEOs still consider China as their second-largest investment destination globally. The "Insights from Multinational Executives in China" pointed out that 70% of foreign executives would invest in central and western China due to considerations such as land, policies, and costs.
Liang Weijian, PwC's China Market Leader Partner, believes that a crucial reason why global CEOs are generally optimistic about investing in the Chinese market is that the Chinese government has continuously implemented policies aimed at liberalizing and facilitating foreign investment. China's negative list is getting shorter, the manufacturing sector is fully open to foreign capital, and restrictions on emerging industries have been reduced. This overall development trend is very evident.
Despite the fact that many foreign-invested enterprises and executives have cast their votes of confidence in investing in China through concrete actions, there are still some dissonant and negative voices emanating from the international community. On the 29th of last month, the Office of the United States Trade Representative released the "2024 National Trade Estimate Report on Foreign Trade Barriers," listing China as a country of primary concern. So, what impact will these negative voices have on foreign investment in China?
Wang Wen, Executive Dean of the Chongyang Institute for Financial Studies at Renmin University of China, believes that since China's accession to the World Trade Organization, China's foreign trade barriers have gradually been eliminated, and its tariff levels are even more advantageous than those of many developed countries. Some reports on China's investment environment are actually a form of propaganda attack based on the "China's economy peaking theory," or even part of a propaganda war, which can dampen global investment expectations in China and its economic development prospects.
Sang Baichuan, Dean of the Institute of International Economic Research at the University of International Business and Economics, pointed out that when confronted with these erroneous remarks, the most important thing is to take action. We should actively pursue self-driven opening-up, especially by aligning with high-standard international economic and trade rules, and establishing a system of fair competition and non-discrimination. This will help dispel the world's doubts about China and concerns about competition from China.
Quoted from: CCTV News
Link: https://mp.weixin.qq.com/s/sqgpyho2wokpBBOYYBdXQg
