【CIFTIS 2023】Speech by the Ministry of Commerce representative at E-Town investment promotion conference

During the 2023 China International Fair for Trade in Services (CIFTIS), the "2023 Beijing E-Town High-Quality Development Investment Promotion Conference & the Launching Ceremony of Beijing E-Town Global Partnership" was held in the Beijing Economic and Technological Development Area (BDA).

A representative from the Ministry of Commerce (MOFCOM) attended the conference and delivered the following speech:

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[Photo provided to beijingetown.com.cn]

The State Council has recently issued a statement outlining guidelines regarding further optimizing the environment for foreign investment and intensifying efforts to attract foreign investments. The guidelines urge improvement of the overall balance between domestic and international situations and foster a world-class business environment that is market-oriented, law-based and internationalized.

The MOFCOM has steadily progressed in institutional opening-up, bolstered policy support for foreign investment, optimized the promotion and services for foreign capital, improved the environment for foreign investment, promoted high-level opening-up to the outside world, and supported better development of foreign-invested enterprises.

The national economic development zones play a crucial role in the country's development. In the first half of this year, despite the slack global economic recovery and lessening external demand, China has achieved remarkable results in foreign trade and foreign investment.

During the first half of this year, foreign investment remained stable, registering an actual utilization of foreign capital of 703.65 billion yuan ($98.48 billion). There were 24,000 new foreign-funded enterprises, a 35.7 percent increase year-on-year.

There were more high-quality investment, as evidenced by a 7.9 percent growth in high-tech industry investment and a 28.8 percent growth in high-tech manufacturing industry investment.

Multinational corporations conveyed their confidence in the vast opportunities of the dynamic Chinese market, affirming their commitment to further deepen their presence in it.

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[Photo provided to beijingetown.com.cn]

The only national development zone in Beijing, the BDA has consistently upheld a high level of openness to the outside world, promoting high-quality development.

After 31 years of construction and development, the BDA has attracted over 70,000 enterprises from more than 40 countries, with a total investment exceeding $100 billion. Ninety-nine Fortune Global 500 companies have invested in over 150 projects, playing a crucial role in stabilizing foreign trade and investment.

In terms of the next-generation information technology industry, Semiconductor Manufacturing International Corporation (SMIC) has emerged as the fastest-growing company among the world's top four silicon wafer manufacturers. BOE Technology Group leads in global shipment volumes of display screens across various mainstream applications, taking up one-quarter of the intelligent display terminal market.

In the high-end automobile and new energy vehicle industry, a cluster led by Beijing Benz has been established, marked by the completion of the company's first overseas engine factory and research center. Major enterprises like ZF, Eberspaecher, and BHAP have continued to increase their investments. Furthermore, national-level research and development platforms have been introduced, including an intelligent vehicle innovation center, a new energy vehicle technology innovation center, and the Altair industrial design center.

In the biotechnology and big health fields, the BDA has brought together over 3,500 multinational pharmaceutical enterprises, emerging innovative drug companies, medical device manufacturers, and research and development outsourcing firms, including Bayer, Varian, Sanofi, Tong Ren Tang, Sino Cell Tech, GE Healthcare, and Pharmaron.

In the industry of robotics and intelligent manufacturing, the BDA has attracted leading enterprises such as SMC, Schneider, ABB, and Goldwind, contributing to one-third of the country's national standards for intelligent manufacturing (out of the national total of 285). The BDA holds the fourth position in the comprehensive ranking of national economic development zones, and is a testing ground for capital and national reform and innovation, a pioneer in openness to the outside world, and a growth pole for regional development.

The MOFCOM will strengthen communications and exchanges with foreign enterprises and business associations. We will promptly help resolve operational and project-related challenges faced by businesses and constructions, offering greater convenience for foreign investors engaged in trade and investment in China.

China is vigorously advancing its high-level opening-up and will use policy and openness to find more development opportunities as it deepens economic exchanges with the outside world and strives for mutually beneficial cooperation. This effort will build strong momentum for high-quality development.

At the same time, we sincerely hope that foreign enterprises can fully seize the opportunities presented by China's opening up and development, further expand their investments in China, and achieve new milestones and new development in the new paradigm.

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