Container vessels berth at the Port of Yangshan to clear cargo around the clock in Shanghai on January 2, 2022. In 2021, the Port of Shanghai handled over 47 million standard containers, ranking first among the world's ports for the 12th consecutive year. Photo: VCG
China's Ministry of Commerce (MOFCOM) vowed on Thursday to help secure the operation of foreign-funded companies struggling with the impact of recent outbreaks of COVID-19, as some foreign companies are facing recruitment and other challenges caused by the epidemic that affect their normal production and operation.
Shu Jueting, a spokesperson for the MOFCOM, made the remarks during a press conference on Thursday, noting that the ministry has established a special working group and is cooperating with relevant departments to deal with multiple issues, including work resumption, employment visas and logistics for foreign-funded companies, especially for businesses in COVID-affected areas like Shanghai, Shu said.
As some of the problems are being resolved by support measures, the ministry will keep monitoring the market situation and help foreign-invested companies to maintain normal operations, Shu noted.
The pledge of support also comes as China continues to see rapid growth in foreign investment in recent months, despite COVID-19 flare-ups.
From January to March, the country's non-financial FDI reached $59.09 billion, an increase of 31.7 percent compared with the same period of last year. Actualized FDI in China from countries and regions along the Belt and Road Initiative and ASEAN members increased by 6.5 percent and 5.3 percent, respectively, year-on-year.
"The figures showed that China maintained high growth in FDI, with foreign enterprises optimistic about the country's stable economic environment despite outbreaks of COVID-19 and geopolitical uncertainty," Dong Dengxin, director of the Finance and Securities Institute at the Wuhan University of Science and Technology, told the Global Times on Thursday.
During a meeting held by the MOFCOM on March 31, participating foreign auto companies generally expressed a positive outlook on China's long-term stable economic development and market potential, saying that China will remain one of their most important overseas markets. China's auto production and sales increased in 2021, despite the COVID-19 and chip shortages.
Many of them said that they will increase investment in China in terms of new-energy vehicle manufacturing, as well as technology research and development.
They cited the government's support policies including the end of long-standing limits on foreign equity stakes in auto manufacturing enterprises starting this year.
In the first quarter, the actual use of foreign investment in high-tech industries stood at 132.83 billion yuan ($20.84 billion), up 52.9 percent year-on-year. Investment in the high-tech manufacturing industry increased by 35.7 percent, and that in the high-tech services industry increased by 57.8 percent.
Dong said the continuous rise of FDI in the country's high-tech industries reflected the results of China's industrial transformation and upgrading, especially in its manufacturing industry.
Global Times
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