The BASF site under construction in Zhanjiang, Guangdong province, involves investment of billion from the German chemical giant. [Photo/Xinhua]China's foreign direct investment inflows are expected to hit a new record in 2023 and will probably rank first in the world, experts said on Wednesday.This is because the country's FDI surge against headwinds last year has indicated foreign investors' strong confidence in the Chinese economy, while the government's ramped-up policy efforts are expected to boost economic recovery and expand FDI inflows into key industries, inland regions and major projects, they said.Their comments came as the Ministry of Commerce said the country's FDI in actual use hit more than 1.23 trillion yuan in 2022, up 6.3 percent year-on-year. In US dollar terms, the figure was 189.13 billion, up 8 percent year-on-year.The performance was better than expected, given the domestic and external challenges, especially the growth rate for the manufacturing industry and major foreign investment projects — those with contractual foreign investment of more than 0 million each — being 46.1 percent and 15.3 percent, respectively."Amid subdued global FDI sentiments, the robust FDI growth last year indicated foreign investors are upbeat about the supersized China market and its improving business environment," said Wei Jianguo, a former vice-minister of commerce and vice-chairman of the China Center for International Economic Exchanges."China will become more attractive to them, with the wider opening-up and the anticipated rebound in its economic activity following optimization of the COVID-19 measures," he added.Wei predicts FDI will grow at two digits to probably reach 0 billion to 0 billion in 2023, surpassing the United States, as the latter faces economic slowdown — and even a recession. China was the second-largest FDI recipient in 2021, behind the US, according to the United Nations Conference on Trade and Development.In a circular released recently, the State Council said that China will support foreign-funded research and development centers, so that they can use large scientific research instruments, as well as reports and relevant data of major national science and technology programs, in accordance with Chinese laws.Analysts have widely attributed China's robust FDI performance to the combined effects of the country's policy efforts and economic upgrade and expansion, which, they say, have largely offset disruptions from the epidemic and geopolitical issues.As consumer activity recovers amid decreasing COVID-19 disruptions and concerted policy steps are made to prop up infrastructure investment and stabilize the property sector, China's economy is likely to see a robust rebound this year to further shore up FDI, they said.Zhang Shaogang, vice-chairman of the China Council for the Promotion of International Trade, said, "China's new round of reform and opening-up will encourage global companies from the high-end manufacturing sector to further transform traditional industries with smart manufacturing technology in the country."Its industrial ecosystem and digitalization initiatives will play a crucial role in shaping the future in areas such as connected products, electric vehicles and clean power generation."Considering that major FDI projects have high-standard industrial support system requirements, such as talent and industrial chains, Zhou Mi, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation, said the FDI data last year showed that foreign investors are bullish on China's economic prospects and are placing more key links of their industrial chains in the country.According to CCIEE vice-chairman Wei, capital, technology and talent will accelerate moving into East Asia, and China's growing, supersized domestic market — driven by its economic expansion, stabilizing property sector and increase in people's dispensable incomes — will become even more attractive to foreign investors, who nowadays tend to keep a short physical distance between product and service providers and consumers to cut costs and avoid supply chain uncertainties.The National Development and Reform Commission said on Wednesday that China will improve implementation of its FDI policies and guide FDI into high-end manufacturing, modern services, high-tech and environmental protection industries, and central, western and northeastern regions.It also vowed to expand, in an orderly manner, opening-up in telecommunication, internet, education, culture and healthcare industries, remove restrictions outside the negative list and ensure equal policy implementation for foreign-funded enterprises as Chinese ones.Shen Bo, senior vice-president of Dutch semiconductor equipment manufacturer ASML and president of ASML China, said that brands that originated from China play an increasingly important role in major semiconductor markets, which ensures the long-term prospects of the semiconductor industry in the country.ASML currently employs more than 1,500 people in the Chinese mainland, and it will continue to expand team and attract talents in China, he said.Contact the writers at liuzhihua@chinadaily.com.cn 編輯：王貊國(guó)
Asked about China's COVID-19 reopening, Haitham Al Ghais said: "This means a lot to the global economy, to energy. And, of course, to trade between China and the rest of the world. This has a significant impact."by Martina FuchsDAVOS, Switzerland, Jan. 18 (Xinhua) -- The secretary general of the Organization of Petroleum Exporting Countries (OPEC) is "very confident about China's economy," he told Xinhua in an exclusive interview on the sidelines of the World Economic Forum (WEF) here on Wednesday.CHINESE?ECONOMYAsked about China's COVID-19 reopening, Haitham Al Ghais said: "This means a lot to the global economy, to energy. And, of course, to trade between China and the rest of the world. This has a significant impact.""Having lived in China for almost four years ... I have faith in China. I've always said that when people have doubted the Chinese economy, do not discount China, China will come back," he said.Al Ghais of Kuwait assumed the post of secretary general in August, succeeding the late OPEC chief Mohammad Barkindo, who died in July last year.China reported steady economic growth in 2022 despite pressures, including the resurgence of COVID-19 and a complicated external environment, with its gross domestic product (GDP) reaching new highs.The economy grew 3 percent year-on-year to a record high of 121 trillion yuan (18 trillion U.S. dollars) in 2022, China's National Bureau of Statistics (NBS) said on Tuesday."We are very confident in the Chinese economy and the strength of the leadership and the government and the people of China," said the OPEC chief."OPEC and China have had a long-standing relationship and great dialogue, which we as well as our member countries have enjoyed over so many years," he noted.GLOBAL?ECONOMIC?OUTLOOKOil prices, which came close to the all-time high of 147 U.S. dollars a barrel in March last year due to the conflict in Ukraine, have since unwound most of their 2022 gains.In its monthly oil market report released on Tuesday, OPEC stuck to its global oil demand forecast for this year despite an improving economic outlook in top crude importer China.The group said it still expects oil demand to grow by 2.2 million barrels per day (bpd) this year, which is lower than its previous estimate of 2.5 million bpd growth for 2022.The 2023 global economic growth forecast remained unchanged at 2.5 percent, it also said in the report. For China, the OPEC kept its economic growth forecast unchanged at 4.8 percent for 2023."We see the global economy still growing at a relatively good pace in view of the circumstances. Last year, the world was witnessing signs, especially in the second half, of an economic slowdown, especially in the OECD (Organization for Economic Co-operation and Development) developing countries," Al Ghais said."We also had issues related to Chinese oil demand because of the extensive lockdowns after the COVID cases were spiking in China and the measures that were implemented there," he said.OIL?DEMANDFor 2023, OPEC kept its world oil demand growth projection unchanged at 2.2 million bpd, with the OECD members growing by 0.3 million bpd and non-OECD members by 1.9 million bpd.As a policy, OPEC does not forecast or comment on oil prices but only on supply and demand, Al Ghais explained."Our initial projections for this year show that there is optimism, especially since China has opened up. China is a major global economic powerhouse."He emphasized that more investments were needed to transform the industry."OPEC's forecast from today until 2045 is that we see a requirement of 12.1 trillion U.S. dollars to be invested in the oil industry. This is a holistic view, investments not just in production and exploration but also in logistics, shipping, downstream refining, petrochemicals, the whole value chain," he said.CHINA'S?GREEN?TRANSITIONThe secretary general also highlighted the importance of China's green energy transition."We are extremely proud of the steps taken by the Chinese government to promote renewable energy as a part of the energy mix that's required for China to fuel its continuous development and economic growth," he said.The OPEC chief said that the world "will require all sources of energy," which fits in line with the Chinese green energy transition, where all sources of energy will be required.He hailed China's "ambitious targets" that have been laid out by the leadership to be carbon neutral.On Sept. 21, 2020, China announced at the 75th session of the United Nations (UN) General Assembly that it aims to have CO2 emissions peak before 2030 and achieve carbon neutrality before 2060. 編輯：王鮆魚
