China official outlines four new business opportunities for foreign investors

China's super-large consumer market, the expanding services sector, the innovation ecosystem and new pacesetters of opening up are emerging as the four key draws for foreign investors, said an official on Thursday in Beijing at a press conference on the interpretation of this year's government work report.

The government work report was submitted to the national legislature for deliberation earlier on Thursday.

The report pledges to encourage foreign-funded enterprises to reinvest in China and expand their production locally.

Shen Danyang, head of the government work report drafting team and director of the State Council Research Office, said that by the end of 2025, China's actually-used foreign investments had exceeded 700 billion yuan (about 101 billion U.S. dollars) for 16 consecutive years, ranking among the top globally, while foreign-funded enterprises in China experienced overall growth in both operating revenues and total profits.

Judging from the current situation, Shen identified four fresh business opportunities for foreign investors in China.

The first is the country's super-large consumer market. China's total retail sales of consumer goods topped 50 trillion yuan (about 725 billion U.S. dollars) for the first time last year, placing it among the world's largest. Such a massive market craves ever more quality supply, giving foreign firms ample room to make their mark, Shen said.

The second opportunity springs from the country's expanding service sector. Last year, China's per-capita services consumption accounted for 46.1 percent of the total and is climbing steadily, he said.

China will launch initiatives to expand the capacity and improve the quality of the services sector this year, broadening market access and opening up new areas of the sector to create a steady stream of opportunities for businesses of all types, including foreign-funded ones, Shen said. "China's innovation ecosystem marks the third business opportunity. The country boasts complete and efficient industrial and supply chains, and is forging new industrial ecosystems around the digital economy and green low-carbon sectors. The fourth new business opportunity lies in the country's new pacesetters of opening-up. China will fully implement its upgrade strategy for pilot free trade zones (FTZs) this year and act on plans for the high-quality development of national-level economic development zones (NEDZs). Meanwhile, the launch of island-wide special customs operations in the Hainan Free Trade Port will offer foreign-invested enterprises more preferential terms and development opportunities to engage in processing, manufacturing, and more liberalized, convenient trade and investment," Shen said.

China official outlines four new business opportunities for foreign investors

Families of victims killed in an attack in central Nigeria's Jos a week ago are calling on the government to do more to protect lives and property.

Gunmen attacked the Ungwan Rukuba community, opening fire and killing about 30 people on March 29.

Ferdinand Habila Gapsiso lost his 24-year-old son Makburi in the attack. As friends and family condoled them in a memorial service, the father recounted the devastation of losing a child.

"When we turned to the other side, where they laid the corpses down on the floor, the first person that we saw was [Makburi]. This child was my hope. We have struggled for him to get to that stage, and suddenly they cut his life short. It was so painful, so painful," Gapsiso said.

The government has described the incident as a terror attack. The area is home to several staff and students from the local university, and many of them have since left the city.

The government has also imposed a curfew in Jos North local government area, where the Ungwar Rukuba community is located, as part of the measures to restore law and order in the city.

Jos, and other parts of Plateau State have a history of violent attacks. Community leaders say there is now growing distrust among residents. They want the government to arrest the perpetrators, and ensure they are exposed and punished to serve as a deterrence.

"We have laws in this country. We have the anti-terrorism act that has spelled out what is to be done to anybody who has been found to be culpable. We should be having the political will to make sure that we go all out and let whoever is the perpetrator, found to be guilty to face the wrath of the law. Once we do that, it will send a lot of signals down the spines of people," said Esthon Gapsiso, a community leader.

President Bola Tinubu visited Jos to condole with families on Wednesday. He says the government will deploy 5,000 intelligence-enabled cameras to support peace operations in the state.

"Governor, you and I were elected on a promise of peace and prosperity, not to comfort and create widows and widowers, to bring prosperity as a promise, to bring inclusiveness as a government, to share in the hope and aspirations of everyone, to lead our youths," Tinubu said during the visit.

The president has also scheduled meetings with opinion leaders in the state, to discuss more ways to address the security challenges.

Defense authorities say they have approved deployment of 850 additional troops to Jos, and other parts of Plateau. They say an investigation is also underway to identify those behind the killings.

Residents demand more effective protection measures after deadly attack on community in Jos