China's ongoing efforts to advance high-level opening-up and ensure stable foreign investment this year have attracted numerous foreign enterprises to increase their investments and to benefit from the country's high-quality economic development.
In the Suzhou Industrial Park, east China's Jiangsu Province, Germany-based home appliance manufacturer Vorwerk recently announced an additional investment of 500 million yuan (around 69.5 million U.S. dollars) through profit reinvestment to further boost production capacity and research and development efficiency of new energy vehicle components.
"Chinese market is a very big market and it's growing very fast, and we also want to participate in this growing of the market," said Martin Gluchowski, manager of global operations controlling systems at Vorwerk.
Besides, China is transforming from a global manufacturing hub for foreign enterprises into a thriving research and development hotspot.
For example, Siemens Healthineers, a German health technology company, is accelerating the construction of its research and development base in Shenzhen, a technology hub in southern China.
With a total investment exceeding one billion yuan (around 139 million U.S. dollars), the base will cover 63,000 square meters and is expected to be operational by the end of 2027. It will focus on the research and production of angiography equipment and core components for magnetic resonance imaging (MRI) systems.
Belgium-based ArcelorMittal, one of the world's largest steelmakers, has invested in developing VAMA, the company's automotive steel joint venture with Hunan-based Chinese steelmaker Hengyang Valin Steel Tube Co., Ltd.
This year, China has issued an action plan for stabilizing foreign investment in 2025, steadily advancing voluntary opening up in sectors such as telecommunications, healthcare, and education, and encouraging foreign enterprises to conduct equity investments in China.
The country will also revise and expand the Catalog of Encouraged Industries for Foreign Investment to accelerate the implementation of signature foreign-funded projects.
In the first four months of this year, over 18,000 new foreign enterprises were established across China. Sectors including e-commerce services, aerospace vehicle and equipment manufacturing, and chemical manufacturing saw the actual use of foreign capital grow by more than 50 percent.
The attractiveness of the Chinese market to foreign enterprises will continue to strengthen with the implementation of measures to ensure stable foreign investment.
China attracts increased foreign investments to share development opportunities
