Multinationals to embrace more prospects in China: Report

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As China seeks a higher level of opening-up, multinationals are expecting renewed prospects in the country, a Chinese think tank said in a report Tuesday.

The report on enterprise globalization was released by the Center for China and Globalization on the sidelines of the ongoing China International Fair for Trade in Services (CIFTIS).

With foreign-investment law put into practice and regulations issued on optimizing the business environment, the interests of foreign investors will be further protected in the Chinese market, said the report.

As wider market access opens up more space for development, system innovation in free-trade zones and free-trade ports is expected to improve the investment environment, the report noted.

According to the think tank, the world’s second largest foreign direct investment recipient is also bolstering economic resilience, consumption potential, and industrial-chain advantages.

In 2020, financial multinationals are accelerating their pace by tapping into China’s insurance, credit and financial derivatives markets, said the report.

With the domestic epidemic situation under control, China’s consumer market is full of vitality, attracting multinationals in the consumer sector to continuously increase their investment, the report said.

Multinational medical and pharmaceutical companies, optimistic about the development potential of China’s medical industry, are investing in China to build production and innovation bases to empower China’s medical digital development, it added.

Themed “Global Services, Shared Prosperity,” the CIFTIS runs from Sept. 4 to 9 and has attracted about 100,000 attendees, with 18,000 enterprises and institutions from 148 countries and regions taking part.

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