The investment structure is better. Where is the attractiveness of the Chinese market?

Since the beginning of this year, China has attracted two major characteristics of foreign investment in scale and continuously optimizing the structure, which has reinforced the foundation and injecting vitality for the recovery and growth of the Chinese economy.

In the context of the century -old epidemic and the century -old changes, the attraction of foreign investment in the Chinese market is not diminished. It mainly benefits from China to adhere to its own energy to do its own affairs and unswervingly promote the opening of the outside world.

China maintains stable prices and has created a stable macroeconomic environment for foreign capital. The stability of the macro economy is the prerequisite for enterprise investment. Since the beginning of this year, high inflation has become the biggest threat of global macroeconomic stability. Inflation in developed economies such as the United States and Europe, the CPI has reached a new high in 40 years. At the same time, the economic slowdown has been significantly slowed. And China's CPI remains in a reasonable range below 3%, and the measures for stability and price are strong and effective. The supply of basic products such as energy and food is guaranteed, and the price is tolerable. The macro economy has no major imbalance. Can invest.

China's industry and consumption upgrades have accelerated, creating better investment opportunities for foreign investment. From January to July this year, China's high-tech manufacturing added value increased by 9%, 5.5 percentage points higher than all industrial growth rates, and the pace of industrial upgrading further accelerated. China's new energy vehicles, photovoltaic power generation equipment, wind power generation equipment and other emerging industries have reached the world's number one and maintain rapid growth momentum, attracting foreign capital to actively enter these fields, take forward Chinese trains, and share the dividends of China's development. At the same time, the consumption structure of Chinese residents has accelerated to the development of development, enjoyment, and quality consumption. The growth rate of service -oriented, quality, and personalized consumption demand has increased significantly, and it has also attracted relevant foreign investment to enter the rapidly growing consumer goods and service markets.

Strong supporting capabilities in China's industries are conducive to reducing the risk of foreign supply chain. China's industrial door is complete, and it is the only country in the world that has all industrial categories listed in the United Nations industrial classification. Among the major economies, China's intermediate products have the lowest external dependence on foreign countries, and in recent years, it has continued to decline. In the context of the current epidemic and geopolitical impact on the supply chain, the advantages of strong supply chain capacity, short distance, and high toughness have become more prominent, becoming an important factor in attracting foreign capital.

The advantages of oversized economies are prominent, which is conducive to reducing the cost of comprehensive operation of foreign capital. As a large -scale economy, China's scale economic advantages are obvious. China has more than 1.4 billion people, with large -scale and relatively complete element supply and large -scale market capacity. At the same time, with the pace of building a large unified market in China, the regulatory rules and policies of market rules in various places are increasingly uniform, and the system costs have been further. Decreased, making large -scale low -cost layout production capacity, which is possible to attract more large foreign companies to enter China.

The business environment is continuously optimized and provides better services for foreign investment. In recent years, China's "decentralization and management service" reform has been deepened, and substantial progress has been made to build a market -oriented, rule of law, and international business environment. The number of approvals has been greatly reduced, and efficiency is greatly improved. In response to the adverse effects of the epidemic on foreign investment, governments at all levels have also increased their efforts to stabilize foreign capital, improved the coordination mechanism of foreign trade and foreign capital, established special classes for key foreign -funded projects, strengthened key foreign -invested enterprises and project service guarantees, and conducted a good process of tracking throughout the process. Services and effectively solve the problems of planning, land use, environmental assessment, and energy consumption involved in the landing of foreign projects, and the service efficiency has been significantly improved.

Persist in opening up to the outside world and provide new space for foreign investment. In the context of the current economic globalization encounter and the new crown pneumonia epidemic, China has continued to expand its opening up, and the areas and regions of foreign investment can be expanded. Compared with before the epidemic, the negative list of foreign investment access is reduced from 40 to 31, which encouraged the foreign investment industry catalogs to expand year after year. The service industry and other service industries are expanded in an orderly manner, and the free trade pilot zone has increased from 18 to 21. The overall plan of Hainan Free Trade Port Construction and Shenzhen's further expansion of reform and opening up. improve.

(Sun Xuegong, the author is the director and researcher of the decision -making consulting department of the China Macroeconomic Research Institute)

Original title: The investment structure is better, and the attractiveness of the Chinese market is not diminished (open talk)

"People's Daily Overseas Edition" (06th edition of August 30, 2022)

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