China has taken a significant step towards enhancing its business environment for foreign investors, with the issuance of 24 new guidelines by the State Council.
This move shows China’s commitment to reform, opening up, and creating a welcoming environment for foreign enterprises and investors. In an official statement, authorities mentioned the guidelines as a tangible embodiment of China’s determination to reforming and opening up, while concurrently demonstrating its dedication to bringing up an environment of equal rights and mutual benefit.
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“We hope investors in foreign invested enterprises from various countries can fully feel that these measures demonstrate the Chinese government’s unwavering determination to further opening up,” stated an official spokesperson. “We also hope they can fully enjoy the benefits by the implementation of policies achieving common development with the Chinese economy.”
The authorities also pledge to provide stronger fiscal support and tax incentives, aiming to attract more foreign capital. The first half of 2023 witnessed an impressive increase in foreign enterprises seeking to establish themselves within the country.
The number of additional foreign enterprises soared by a remarkable 35.7%. This surge reflects the enduring confidence foreign investors maintain in the Chinese market, especially within the high-tech manufacturing sector.
The actual utilization of foreign investment in high-tech manufacturing experienced an increase of 28.8% in the first half of the year. This indicates a substantive confidence foreign enterprises have in China’s market potential. This assertion suggests that the burgeoning manufacturing landscape in China holds significant promise for sustained profit opportunities for foreign investors.
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