The Chinese Government has assured the international business community of its resolve to welcoming foreign investment as the country pursues an open world economy.
President Xi Jinping said foreign businesses played a critical role in the country’s modernisation, economic productivity and investment drive, and the Asian giant was leveraging that in the interest of all stakeholders.
“In this process, foreign businesses have thrived and generally enjoyed handsome returns, achieved win-win results, and forged profound friendship with the Chinese people,” he told representatives of the international business community in a meeting at the Great Hall, Beijing.
More than 40 global chairmen and chief executive officers of foreign businesses as well as representatives of business councils attended the meeting.
The event comes amid the mounting geopolitical crises and economic uncertainties, which threaten the international business ecosystem, with the economic outlook of most developing countries likely to be negatively affected.
The United Nations’ World Economic Situation and Prospects 2025 report projects the Gross Domestic Product (GDP) per-capita growth to remain below the 10-year pre-pandemic average in the least developed countries, small-island developing states and landlocked developing countries.
President Xi said multilateralism was the only choice for addressing global challenges, adding that economic globalisation remained an unstoppable trend of history.
Foreign businesses, especially multinational companies, played an important role bearing significant responsibility for maintaining the global economic order, he stated.
“They are expected to safeguard the multilateral trading system, maintain the stability of global industrial and supply chains, protect the international environment for openness and cooperation, and advance economic globalisation in the right direction,” the Chinese President said.
“China upholds true multilateralism, promotes universally beneficial and inclusive economic globalisation, actively participates in global economic governance, and is committed to building an open world economy.”
The President noted that due to comprehensive reforms and opening up, and actively leveraging foreign capital, the country had been able to rapidly enter the global market, catching up with the times in great strides.
Additionally, foreign businesses and investment in China had driven economic growth and employment, while boosting technological and managerial progress.
On the country’s road map and timetable for further reforming the regulatory framework for inbound and outbound investment, he said China would open up wider by focusing on lowering the threshold of market access.
The Asian giant was working assiduously to ensure equal national treatment for foreign businesses and uphold fair market competition, strengthen communication with foreign businesses, and provide as much convenience as possible for them to trade and invest in China.
President Xi assured that his country would protect the legitimate rights and interests of foreign businesses in accordance with law, while pursuing a path of peaceful development.
“China offers a vast stage for business development, vast market prospects, stable policy outlook, and a secure environment, making it a favoured choice for foreign investment and business operations.
“China has been and will remain an ideal, secure, and promising destination for foreign investors.
“Embracing China is embracing opportunities, believing in China is believing in a better tomorrow, and investing in China is investing in the future,” President Xi emphasised.
Meanwhile, some participants at the business session lauded China for achieving steady economic growth through deep, comprehensive reform and high-standard opening up under the leadership of President Xi.
China’s development, they said, was the core driving force of the global economy, offering exciting, vast opportunities and growth potential.
The business representatives applauded the Chinese Government’s efforts to create a fair and enabling environment for foreign businesses and expressed readiness to expand investment cooperation with the Asian giant.
The participants cited how China had empowered industrial transformation and upgrading through innovation and set to realise higher-quality and more sustainable development.
Amid growing protectionism, the Asian giant had continuously expanded, injecting stability into the global economy, and had become an oasis of certainty and a hot spot for investment and entrepreneurship, they noted.
In 2024, China’s GDP reached 134.9 trillion yuan, with the primary, secondary and tertiary industries growing by 3.5 per cent, 5.3 per cent and five per cent, respectively.
President of the FedEx Corporation, Rajesh Subramaniam, Chairman of the Board of Management of Mercedes-Benz, Ola Källenius, and Chief Executive Officer of Sanofi, Paul Hudson, spoke at the meeting.
The others were Executive Director of HSBC Holdings Plc., Georges Elhedery, the President of Hitachi Ltd., Toshiaki Higashihara, President of SK Hynix Inc., Kwak Noh-jung, and President of Saudi Aramco, Amin Nasser.
Source: GNA
The post China advances open world economy, welcomes foreign investment appeared first on Ghana Business News.
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