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China to remain top destination for global investment

By Jing Shuiyu | | Updated: 2020-02-29 13:39
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A teller counts and arranges dollar notes at a bank in Huaibei, Anhui province. [Photo/]

China will remain one of the top investment destinations for global investors, as the impact of nationwide efforts in epidemic prevention is unfolding, an expert said.

Wei Jianguo, vice-chairman of the China Center for International Economic Exchanges, said China will still be a top priority for global investment plans, despite concerns over the epidemic amid the global economic downturn.

Speaking at a news conference on Friday, Wei said he is confident in the country's capability to attract foreign direct investment.

"In 2020, China's FDI is expected to grow at the same pace as last year. If the country further opens up the economy in the second half of the year, the growth of FDI this year is likely to surpass that of last year," Wei said.

The estimation was made as the Foreign Investment Law and its supporting regulations came into force this year, and a new negative list for foreign investment will soon be released, he added.

"Foreign firms have been satisfied with China's enhanced efforts in fighting against the novel coronavirus epidemic," Wei said, citing that some big-ticket projects, like BASF's $10 billion project in Guangdong province, are underway in an orderly manner.

Wei urged strengthened international cooperation to minimize the influence of the epidemic on the global supply chain. For instance, he suggested China, Japan and South Korea construct a mechanism for industrial coordination.

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