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China’s Door To The Outside World Will Open Wider In Terms Of Co-operation

  China’s door to the outside world will open wider and wider. The development space for for­eign-invested enterprises in China will also be greater and greater. China’s opening up to
22 Oct 2018 14:26
China’s Door To The Outside World Will Open Wider In Terms Of Co-operation
From left: Embassy of Fiji in Beijing, China, Second Secretary Amelia Cobona, Fijian Ambassador to China Manasa Tagicakibau and Fiji Sun journalist Lusiana Tuimaisala during the opening ceremony of the Global Production Capacity and Business Co-operation Forum in Wuhan City, China, on October 19, 2018.

 

China’s door to the outside world will open wider and wider.

The development space for for­eign-invested enterprises in China will also be greater and greater.

China’s opening up to the outside world is an all-round opening up to both “ bringing in “ and “ going out “.

Deputy director of the China National Development and Reform Commission, Ning Jizhe, made this comment while opening the Global Production Capacity and Business co-operation Forum in Wuhan City on Friday.

The forum focused on the theme of openness, development and win-win co-operation.

Fiji was represented by Ambassador Manasa Tagicakibau and Second Secretary Amelia Cobona from the Embassy in Beijing.

Mr Ning said the introduction and implementation of the new opening-up measures have boosted foreign investment confidence.

“China attracted US$86.5 billion (FJ$185.97bn) in investment from January to August this year.

“A year-on-year increase of 6.1 per cent; from the United States and Europe and neighbouring countries and regions enterprises have increased their investment in China substantially.”

Investment expansion plans

According to the statistic of the American Chamber of Commerce in China, this year 74 per cent of United States enterprises expanded their investment in China.

This was an increase of five per cent over last year.

 

And 61 per cent of the European Union enterprises are optimistic about the development prospects in China, up to six per cent points from last year.

“We are glad to see that a number of multinational companies have started or are considering a new round of investment in China Projects, many of which are large projects with investment scale of several billion US dollars or even more than US$10bn (FJ$21.50 bn) mesh,” Mr Ning said.

Moreover, he said the China National Development and Reform Commission would work with all relevant departments and localities.

“We will continue to do a good job in implementing the major measures for expanding and opening up, and make efforts to attract foreign investment and make efforts to improve its business environment, efforts to deepen the reform of foreign investment management system, and efforts to protect foreign investors,” said Mr Ning.

“The capital enterprises shall be treated equally, and the fair treatment after admittance shall be fully implemented, and the investment shall be for foreign investors capital projects to provide more convenient conditions.”

Overseas Chinese Funded Enterprises

In 2017, Overseas Chinese-funded enterprises paid US$ 37.6 bn (FJ$80.84bn)

in taxes to the countries where they invested, up 36 per cent from the same period last year.

At the end of the year, 1.71 million foreign employees were employed, an increase of 370,000 from the end of the previous year, and really promoted.

China have entered the economic development and improvement of people’s livelihood in the host country.

Also, from January to September this year, non-financial direct overseas investment by Chinese enterprises reached US$82bn (FJ$176.30bn)

Opening Up featuring linkage between Land and Sea

Mr Ning said China’s opening up to the outside world was an all-round opening up featuring linkage between land and sea and two-way economic cooperation between the east and the west book.

This year marks the 40th anniversary of China’s reform and opening up.

And Chinese President Xi Jinping during the Boao Forum in April, announced a major initiative to expand opening up, demonstrating the vision of China’s opening to the outside world in the new era and the blueprint have evoked warm repercussions in the international community.

These involves finance, transportation, commerce and trade, professional services, manufacturing and infrastructure, energy, resources, agriculture and other fields, a total of 22 open measures.

“We worked hard to strengthen cooperation and support, and initiated the establishment of the silk road fund.”

Mr Ning added China’s Belt and Road Initiative and the Forum on Global Production Capacity and Business Co-operation significantly contributed to pragmatic co-operation.

This included with Hubei in trade and investment, infrastructure constructions, and cultural exchanges, seeking for mutual benefits and win-win development in the Province of Hubei, with a population of more than 60 million.

The Forum embraced themed seminars, contract signing ceremonies, region specific sessions enterprises fairs and face to face business talks.

It also established a new platform for global production capacity co-operation in central China.

More than 200 delegates from countries in the Belt and Road Initiative, and 1100 enterprises from China and abroad attended the forum.

Feedback: maraia.vula@fijisun.com.fj

 



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