BEIJING, Dec. 14 (Xinhua) -- Multinational Corporations including Wilmar International, Tesla, Shiseido and Wal-Mart have increased their investment in China due to the higher level of China's opening-up policy, reported by Economic Information Daily on Friday.
In the next coming years, Wilmar International will double its investment in China, according to Kuok Khoon Hong, Chairman and CEO of Wilmar International.
U.S. carmaker Tesla Inc. will invest billions of yuan in Shanghai to set up its first overseas plant in the city. China headquarters of Shiseido will set up an innovation center in Shanghai next year.
The uptick in foreign investment could be attributed to a series of opening-up measures introduced by the Chinese government.
In 2018, China released a shortened negative list for foreign investment. At this year's Boao Forum for Asia, China put forward more than ten specific measures to further open up its finance industry.
China has introduced 540,000 foreign enterprises and more than 2.1 trillions U.S. dollars of foreign investment over the last four decades. The annual investment scale has reached 100 billion U.S. dollars by now.
Foreign enterprises contributed 10 percent of urban employment, 20 percent of fiscal revenue and nearly half of import and export performance to China, according to statistics. (Edited by Wu Shuang, wushuang2018@xinhua.org)
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