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Investment

China's FTZs hold cloud promotion activities to attract foreign capital

May 15, 2020


Abstract : China's pilot free trade zones (FTZs) in Yunnan, Hebei and Henan provinces among others have recently carried out cloud investment promotion activities to attract foreign capital, reported Shanghai Securities News Friday.

BEIJING, May 15 (Xinhua) -- China's pilot free trade zones (FTZs) in Yunnan, Hebei and Henan provinces among others have recently carried out cloud investment promotion activities to attract foreign capital, reported Shanghai Securities News Friday.

By using network connection and live-broadcasting platforms such as Douyin and vzan, these FTZs promoted their key projects and introduced preferential policies to entrepreneurs around the globe.

As a new highland for reform and opening up, the pilot free trade zone also plays an important role in stabilizing basic foreign trade and foreign capital, said Yuan Yuan, deputy director-general of the Department of Pilot Free Trade Zone and Free Trade Port of the Ministry of Commerce (MOC), at a press conference held recently.

It's learned that although affected by the COVID-19 outbreak, China hasn't stopped opening up and attracting foreign investment.

Data showed that in April this year, China's actual use of foreign capital hit 70.36 billion yuan, up 11.8 percent year on year.

The epidemic has changed the major foreign capital sources of China. In the first four months this year, the foreign capital from the European Union fell by 29.1 percent on year, while that from ASEAN jumped by 13 percent on year.

During this period, foreign capital used by the information service sector, the e-commerce sector and the professional technical service sector increased respectively by 46.9 percent, 73.8 percent and 99.6 percent year on year.

The FTZs should fully exert their pioneering advantages of institutional innovation to create a more open and transparent business environment for foreign investors, highlighted Cui Weijie, head of the industrial internationalization strategy research institute with the Chinese Academy of International Trade and Economic Cooperation, a research and advisory body under MOC. (Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)

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Keyword: foreign capital China FTZs

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