International Business Daily:

During the 14th Five-Year Plan period, the global environment for foreign investment has tightened, and China's use of foreign investment has fluctuated. Can the targets set for foreign investment in the 14th Five-Year Plan be achieved on schedule? Have there been any structural changes in foreign investment? Thank you.

Wang Wentao:

I would like to invite Mr. Ling to answer your questions.

Ling Ji:

Thank you for your questions. First, regarding whether the foreign investment targets for the 14th Five-Year Plan can be met — the answer is yes. In fact, we have already achieved them ahead of schedule. Let me summarize the key developments in attracting foreign investment during this period.

First, the targets have been successfully met. As of the end of June this year, the actual use of foreign investment in China during the 14th Five-Year Plan period reached $708.73 billion, reaching the $700 billion target six months ahead of schedule. Meanwhile, 229,000 new foreign-invested enterprises were established, which was 25,000 more than during the 13th Five-Year Plan period. Foreign-invested enterprises now contribute about one-third of China's total imports and exports, one-quarter of industrial value-added, and one-seventh of tax revenue, creating over 30 million jobs and making significant contributions to China's economic and social development.

Second, the quality of foreign investment has improved markedly. In 2024, investment in high-tech industries accounted for 34.6% of total foreign investment, up 6 percentage points from 2020. Many multinational companies have established regional headquarters and global R&D centers in China.

Third, the environment for foreign investors continues to improve. We have been guided by the principle of "three improvements and an enhanced support system." The first improvement concerns the environment for opening up. We have fully implemented the pre-establishment national treatment and negative list system for foreign investment, and have lifted restrictions on foreign investment access in manufacturing nationwide. In addition, we have conducted pilot programs in areas such as cloud computing, biotechnology and wholly foreign-owned hospitals in certain regions. Over 1,100 pilot projects have been carried out in 20 provinces and cities designated as comprehensive pilot demonstration zones for the expansion of the service industry, and we have issued policy documents for the high-quality development of national-level economic development zones. The second improvement concerns the market environment. We have issued and implemented 24 measures for attracting foreign investment and an action plan for stabilizing foreign investment. The implementation has progressed as expected. Of the 59 specific tasks outlined in the 24 measures, 42 have already been fully implemented, while steady progress has been made on the remaining ones. Significant improvements have been made in areas such as government procurement, intellectual property (IP) protection, cross-border data flows, and fiscal and tax incentives, where relevant policies and conditions continue to be improved and optimized. The third improvement concerns the legal and policy environment. More than 500 laws and regulations have been formulated, revised or repealed to support foreign investment. A more robust service and support system has been strengthened. Dedicated working groups for promoting foreign investment have been set up at all levels across the country, and we have strengthened routine communication with foreign enterprises and chambers of commerce. A foreign enterprise roundtable mechanism has been established, and since 2023, MOFCOM has held over 30 roundtable meetings, helping to address more than 1,500 issues raised by foreign companies.

Fourth, "Invest in China" has become a signature brand. More than 60 major "Invest in China" events have been held domestically and abroad. The China International Fair for Investment and Trade (CIFIT), held annually on Sept. 8, has become a flagship platform for promoting investment in China. Many multinational companies describe China as an "ideal, safe, and promising" destination for global investment — "an oasis of certainty and a hot spot for investment and entrepreneurship."

In March this year, President Xi Jinping met with representatives of the global business community and delivered a keynote speech, sending a strong message about China's unwavering commitment to reform and opening up, and significantly boosting the confidence of foreign investors. Partnering with China means embracing opportunity. Investing in China means investing in the future. We sincerely hope that foreign enterprises can achieve even greater growth as they participate in the journey of advancing Chinese modernization. Thank you.