“Foreign capital is the wind vane to observe the economic development of a country. The door of China's opening will only be wider,” said Hu Chengzhong, a deputy to the 14th National People's Congress (NPC), the chairman of Delixi Group Co.,Ltd.. When the Two Sessions are coming, Southern Metropolis Daily, N-Video has interviewed several NPC deputies and CPPCC members and shared “China New Vitality”.
In 2022, the actual amount of foreign capital used in China was 1232.68 billion yuan, up 6.3% year on year, maintaining steady growth. “It is untenable to talk down China’s economy and advocate the ‘decoupling’,” said Hu.
“After entering the international market, we found that the gap between world-class enterprises and us is still too large,” Hu said. Delixi and Schneider had once been competitors and finally they reached agreement and launched cooperation. In November 2007, with the approval of the Ministry of Commerce, they established a joint venture, which became the largest "Chinese-foreign equity joint venture" project in Zhejiang at that time.
"Schneider has more advanced technology, an efficient management system and global network advantages. Delixi's advantages lie in regional brands, costs and domestic channels. The two sides can achieve strong alliances through joint ventures." Hu shared the reasons for cooperation. Due to successful cooperation experience, Hu strongly supported the Foreign Investment Law during China’s Two Sessions in 2019.
Accounting firms are important service providers in the process of foreign investment in China. “We served thousands of foreign enterprises every year, which is about 30 percent of our business,” said Zhu Jiandi, a deputy to the 14th National People's Congress (NPC), the chairman of Lixin Certified Public Accountants.
Zhu said many foreign enterprises appreciated China’s efforts in recent years in optimizing the protection of the legitimate rights and interests of foreign investment.
Vivian Jiang, a member of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC), and the chairman of Deloitte China, has noted that many foreign enterprises' development strategies have been adjusted from "in China for the world" to "in China for China". “Foreign enterprises have deeply involved in the high-quality development of China's economy,” Jiang said.
In 2022, China's foreign investment attraction grew against the trend. It showed the trend of "increasing quality", which fully proved that China's economy was strong in resilience, potential and vitality. “Like ripples, foreign capital can drive and cultivate relevant local enterprises in the industrial chain in China, and also promote the growth of local competitors in the market competition,” said Hu Chengzhong.
Dai Lizhong, a deputy to the 14th National People's Congress (NPC), the chairman of Sansure Biotech Inc., held the same views on foreign investment. As a sci-tech enterprise, Sansure continued to increase investment in scientific research and introduce new technologies from abroad. “We will focus on diversification and internationalization, further enhance the endogenous growth momentum and the expansion capacity, and attract more overseas enterprises to carry out strategic cooperation with Sansure,” Dai said.
Huang Maoxing, a deputy to the 14th National People's Congress (NPC), and the vice president of the Fujian Academy of Social Sciences, pointed out that the introduction of foreign capital has promoted the development of key areas. “The presence of foreign capital in emerging industries such as NGIT, biomedicine, new energy, and new materials will also help promote the further transformation and upgrading of China's industrial structure,” Huang said.
In 2020, Fujian Province imported the world chemical giant SABIC, which impressed Huang deeply. “The petrochemical industry is one of the pillar industries in Fujian Province. This measure not only greatly extended the industry chain, but also expanded the market scale of Fujian’s petrochemical industry.”
Due to this example, Huang is full of confidence that China will attract foreign investment and inject new vitality into the world economy in the future. "The supply-side industrial support will continue to strengthen, the consumer market will continue to expand, and the business environment will continue to optimize. All of these make the Chinese market more attractive to foreign investment, which shows our firm determination to open up."
Reporter | He Jiahui from Southern Metropolis Daily, N-Video
Intern | Li Yuxia from Southern Metropolis Daily, N-Video
Editor | Zhou Fei from Southern Metropolis Daily, N-Video
