By LIU ZHIHUA in Beijing and HENG WEILI in New York | China Daily | Updated: 2021-01-26 06:45 Share CLOSE An employee assembles a wire harness at the workshop of Draexlmaier (Anshan) Wire Harness System Co in Anshan, Liaoning province, in April. The plant is one of five in China operated by Germany-based Draexlmaier Group. YAO JIANFENG/XINHUA
China became the world s largest recipient of foreign direct investment in 2020, followed by the United States, according to a UN report.
Analysts and business executives said that proved once again China s continuously improving business environment and the great resilience of the country s economy despite the impact of the COVID-19 pandemic.
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There may be more changes to China s business environment than you thought.
Over the past years, China has shortened negative lists for market access, attracting more international brands to enter the world s largest consumer market. The ceiling of statutory damages of intellectual property rights (IPR) infringement was raised higher, and the country s overall tariff level was lowered. These moves help stabilize foreign enterprises confidence and investment.
Figures speak for themselves. Foreign direct investment (FDI) into the Chinese mainland, in actual use, expanded 6.2 percent year on year to a record high of 999.98 billion yuan in 2020. In U.S. dollar terms, the inflow went up 4.5 percent year on year to 144.37 billion dollars, the Ministry of Commerce (MOC) said Wednesday.
China's record-setting use of foreign direct investment last year reflects foreign investors' strengthened confidence in doing business in the country, analysts and business executives said.