Ministry of Commerce: Many multinational companies investing in China have upgraded from "optional" to "mandatory"

Beijing, March 26 (Xinhua) -- The spokesperson of the Ministry of Commerce, He Yongqian, stated at a regular press conference on the 26th that many multinational companies investing in China have upgraded from "optional" resource allocation to "necessary" strategic development.

He Yongqian said that recently, many global leaders of multinational companies such as Apple, Eli Lilly, BASF, Volkswagen, Bosch, and Alfotemm Group, as well as representatives of business associations such as the US China Trade Commission, have visited China intensively. They highly recognize the strong resilience, innovative vitality, advantages of a super large market, and continuously optimized business environment of the Chinese economy, and regard China as an innovation base for the global development of multinational companies. Many multinational companies investing in China have upgraded from an "optional" resource allocation to a "necessary" strategic development.

According to her introduction, on the morning of the 26th, BASF's largest single investment project in the world, the BASF (Guangdong) Integrated Base Project, was officially put into operation. Recently, many multinational companies have announced plans to further expand their investments in China. For example, Eli Lilly plans to invest $3 billion in China over the next decade to expand production, Novo Nordisk announced the expansion of its Guangzhou production base, Schneider Electric announced the construction of two new factories in Xiamen and Wuxi, and upgraded its Beijing R&D center. Multinational companies have demonstrated their willingness and confidence to deeply cultivate China in the long term through practical actions.

He Yongqian stated that the Ministry of Commerce will work with relevant localities and departments to deepen the reform of the system and mechanism for promoting foreign investment, implement support policies such as encouraging foreign investment industry catalogs, reinvestment tax credits, and foreign-funded research and development centers, strengthen service guarantees for multinational companies' investment projects in China, continuously update the list of key foreign-funded projects, and provide strong support in cross-border data flow, research and development innovation, talent introduction, etc., to help more foreign-funded projects land and blossom.