China still ‘favorable’ for foreign investors
Print Edition
BEIJING yesterday dismissed claims made in a report by the American Chamber of Commerce in China that the business environment in the country is worsening, saying that the environment for foreign investment remains favorable.
“China will continue its policy of using foreign capital and protecting the rights of foreign enterprises,” Foreign Ministry spokesperson Hong Lei told a regular press briefing yesterday in response to a question about the report.
The country has great potential for economic growth and is willing to share the benefits of its development with the rest of world, the spokesman said.
In its report, the American chamber said that a quarter of its member companies had already or planned to relocate some departments out of China, mainly due to rising labor costs, network supervision and anti-monopoly investigations.
Nevertheless, respondents said that relative to other developing markets, China remains “well-positioned.” The country was also named as the top investment priority for 25 percent of those people polled.
According to official figures, China received US$120 billion worth of foreign investment in 2014, maintaining its position as the leading destination for developing countries for a 23rd straight year.
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