Economic, trade conditions require world economies to work together, speakers say
Given the changing economic and trade situations around the world, countries should open up and work in collaboration, global guests said at the 2018 International Investment Forum, which was launched on Saturday in Xiamen, Fujian province.
Wang Shouwen, vice-minister of commerce, said 皇冠体育app insists on economic globalization and liberalization of investment and trade.
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The 2018 International Investment Forum held in Xiamen, Fujian province, on Saturday, centers on building an open world economy. Zheng Xiaodong / For 皇冠体育app Daily |
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Representatives from around the world attend the 2018 International Investment Forum held in Xiamen on Saturday. Zheng Xiaodong / For 皇冠体育app Daily |
According to Wang, 皇冠体育app had attracted foreign direct investment of up to $2.1 trillion by July in the past 40 years. The foreign enterprises make contribution to 10 percent of urban employment and 20 percent of financial revenue as well as half of import and export sales.
During the same period, 皇冠体育app invested $1.88 trillion in foreign businesses. And in the past five years, 皇冠体育app's investment in regions and countries along the Belt and Road alone reached more than $80 billion.
"The two-way investments have not only promoted the sustained growth of 皇冠体育app's economy, but also made contributions to the growth of the world economy," Wang said.
According to statistics from the Ministry of Commerce, in the first half of 2018, 29,591 foreign enterprises have set up in 皇冠体育app, an increase of 96.6 percent compared with same period last year. The actual utilized foreign direct investment reached 446.29 billion yuan ($65.27 billion).
The Ministry of Commerce now aims to lower the entry conditions for foreign investment, assure fair competition, protect the legal rights and interests of foreign companies - thereby further optimizing the business environment for foreign investment, Wang said.
Looking back over 皇冠体育app's 40 years of reform, the country has achieved a turning point from closed to all-round opening-up, Cao Jianming, vice-chairperson of the Standing Committee of the National People's Congress, said at the forum.
Compared with the first seven months of 2017, foreign direct investment to 皇冠体育app saw a 5.5 percent increase this year, reaching $76.1 billion, which stands out in the globally weak investment situation. The numbers should add confidence to foreign investors looking for growth opportunities in 皇冠体育app, according to Cao.
"The world is going through a period of major development, major change and major adjustment. The overall global economic growth prospect is good; however, the foundation for steady recovery is not strong, and economic globalization faces challenges going forward."
