Banyue talks about reporter You Zhixin
According to data released by the Organization for Economic Cooperation and Development recently, global FDI (foreign direct investment) in 2020 will drop by 42% to 859 billion US dollars, the lowest point in 15 years.
At the same time, China's FDI rose against the trend, reaching 163 billion U.S. dollars, surpassing the United States for the first time to become the world's largest foreign capital inflow country.
Why does China's FDI rank first in the world?
There are multiple reasons for FDI to rank first
China's becoming the world's largest investment destination in 2020 is due to both specific environmental factors and inevitable factors that have accumulated over the past years.
Ernst & Young’s central tax service partner Xia Jun explained that the strong comprehensive advantages accumulated over decades of China’s opening to the outside world are highlighted, including a stable political environment, a huge raw material and consumer market, mature and reliable industrial workers, and complete infrastructure. , Efficient operation of links in the domestic industrial chain, continuously rising innovation index and business environment index rankings, etc.
HSBC China Vice President Ma Jian said that in the special year of 2020, China's comprehensive advantages in economic resilience and emergency management have further strengthened investor confidence.
Although the global economy has been hit by the epidemic and international relations are confusing, China still adheres to the concept of further opening up, giving foreign investors a strong reassurance.
Song Weiqun, senior vice president of Johnson & Johnson and chairman of the China region, clearly judged China’s strategy of opening up from the new pattern of "double circular" economic development formulated during the "14th Five-Year Plan": "China will unswervingly expand opening up and actively advocate global cooperation Promoting mutual benefit and win-win results fully demonstrates its role as a major country that helps build the world economy and join hands in creating a better future."
In terms of specific policy support, China continues to introduce a number of measures to expand the attraction of foreign investment.
Bai Ming, deputy director of the International Market Research Department of the Institute of International Trade and Economic Cooperation of the Ministry of Commerce, believes that this includes relaxing market access, simplifying foreign investment management systems, optimizing the foreign investment environment, increasing financial support for key foreign-funded enterprises, and improving convenience for foreigners to come to China. Degree, etc., are good for attracting foreign investment.
Take the financial industry as an example. With the abolition of restrictions on the proportion of foreign shares held by securities companies and futures companies in my country, the opening up of the capital market has further accelerated. Large overseas commercial banks and leading securities firms have adopted the Chinese market as a strategy for future business development. High ground.
Need to consolidate advantages and optimize investment
Looking to the future, the global epidemic situation is still uncertain, the economic recovery of various countries is uneven, and the international investment pattern still has large uncertainties.
Xia Jun believes that the global economic structure will show a trend of multi-polarization: on the one hand, the United States, Japan, and the European Union will remain important regions for attracting foreign investment; on the other hand, as emerging economies grow, developing countries will become more important in the global economy. Middle status is more important.
In international investment, multinational companies will continue to be the main force in global cross-border investment and value chain layout.
If China can continue to optimize its business environment and ensure its strong attraction to high-quality foreign capital and overseas talents, it will play a key supportive role in maintaining China's leading global economic position.
FDI is an important carrier in which China is deeply embedded in the global value chain system, and it is also an important link for high-quality foreign elements to promote the domestic cycle. The influx of FDI has brought excellent opportunities for my country's industrial upgrading.
Therefore, how to make better use of foreign investment and actively guide foreign investment in key areas that promote the high-quality development of China's economy is worthy of attention.
HSBC Bank (China) Co., Ltd. Deputy President and Director of Industrial and Commercial Finance, Ma Jian, said that more attention should be paid to quality and structure than to attract foreign investment. It can focus on low-carbon industries, new energy, advanced manufacturing, information technology, and In fields such as biotechnology, medicine, retail, etc., through effective guidance, the inflow of capital is adapted to market demand.
Huang Yaohe, China Lead Partner of PwC Global Cross-border Services, suggested that in addition to the industrial layout, we should also pay attention to the geographical layout of foreign investment.
On the one hand, integrate it with my country’s regional economic development strategy, encourage the transfer of foreign capital to the central and western regions, promote the economic development of the central and western regions, and support the development and cultivation of local advantageous industries; on the other hand, focus on attracting the “Belt and Road Initiative” "Countries along the route and ASEAN countries have invested in China to promote the common prosperity of the regional economy.