China’s Xi Jinping pledges to tear down foreign investment barriers, entice capital with ‘heart-warming’ measures
- President Xi Jinping told the Asia-Pacific Economic Cooperation CEO Summit in San Francisco on Thursday that China would ‘strive to tear down barriers’
- China recorded a foreign investment deficit of US$11.8 billion in the third quarter, the first deficit since the data started in 1998
President Xi Jinping pledged more measures would be unveiled to attract foreign investors to China, amid Beijing’s increasing efforts to restore the ebbing confidence of foreign companies, which has hampered its post-pandemic recovery.
“No matter how the international situation evolves, China’s resolve to foster a market-oriented, law-based and world-class business environment will not change,” Xi said in written remarks to the Asia-Pacific Economic Cooperation (Apec) CEO Summit in San Francisco on Thursday.
“And our policy of providing equal and quality services to foreign investors will not change.
“We will strive to tear down the barriers to the flow of innovation factors, deepen reform of the digital economy, and promote free and orderly flow of data in compliance with the law.”
China remains the most powerful engine of global growth
He added that China would implement more “heart-warming” measures, such as improving the policies on entry and retention of foreign nationals in China, and removing choke points in financial, medical, e-payment and other services.