An aerial drone photo shows U.S. carmaker Tesla's Megafactory in Shanghai, east China, Feb. 8, 2025. (Xinhua/Fang Zhe)
BEIJING, Feb. 13 (Xinhua) -- With multiple places in China stepping up support for foreign investment, a number of foreign investment projects have recently been launched, continuously boosting the country's opening up.
Experts believe that given its improving policy environment and unwavering commitment to opening up, China remains a prime destination for global investment, offering global investors broader prospects for their development in the Chinese market.
-- Surging foreign investment projects
The year 2025 has commenced with a surge in foreign investment projects, highlighting China's growing appeal as an innovative market.
With its total investment amounting to around 1.45 billion yuan (about 198.38 million U.S. dollars), Tesla's new Megafactory in east China's Shanghai on Tuesday kicked off production.
Japanese automaker Toyota Motor Corporation announced to construct a new wholly-owned Lexus factory in Jinshan District of southwest Shanghai earlier this month.
Siemens Healthineers, a German health technology company, in January began the construction of its new manufacturing and research facility in Shenzhen, south China's Guangdong Province. With its total investment exceeding 1 billion yuan, the new facility signifies a substantial advancement in the company's localization strategy in China, demonstrating its commitment to achieving further growth in the Chinese market.
Suzhou New District in east China's Jiangsu Province welcomed two key industry headquarters of Inplast Group in December 2024. This cooperation involves the company's further increasing its investment in the district, building world-level R&D and production facilities for its biomedicine and auto parts sectors.
-- Multiple regions enhancing opening up efforts
The sustained growth of foreign investment in China is closely linked to the ongoing benefits from both existing and incremental policies rolled out across various regions.
The eastern region continues to play the crucial role as a ballast for China's opening up, with a number of local administrations listing attracting and utilizing foreign investment, as well as advancing institutional opening up, in their new-year agendas.
Guangdong Province plans to vigorously promote investment attraction this year, aiming to organize over 100 investment promotion events on industrial chains and striving to bring in large-scale and high-quality foreign investment projects with strong driving forces.
Jiangsu Province vows to further advance its institutional opening up with greater effort, promoting opening up innovation across the entire industrial chains of biomedicine and other industries with favorable conditions, expanding service sector opening up, fostering digital trade cooperation, and building a globally competitive ecosystem for opening up and innovation.
The eastern region will effectively leverage its own advantages to attract more resource aggregation through further strengthening coordination and emphasizing institutional guarantees in the opening up efforts, according to Zhou Mi, a researcher with the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce.
The central and western regions ground their efforts on advantageous industries and geographical conditions while implementing facilitation measures to expand their opening up.
Central China's Hubei Province is set to enhance its hub capabilities, comprehensively elevating the province's radiating influence as a fulcrum in the opening up framework.
Southwest China's Chongqing Municipality has proposed to accelerate the development of a modernized multi-modal transportation hub and a comprehensive service system, enhancing the efficiency and capabilities of the New International Land-Sea Trade Corridor.
Given favorable policies, the central region strengthens its ties with the eastern region, capitalizing on advantageous conditions to foster emerging industries. At the meantime, the western region further enhances its connections with Belt and Road partner countries, forming an interconnected, high-quality cooperation and pursuing win-win outcomes in a more balanced and proactive approach, said Zhou. (Edited by Yu Huichen with Xinhua Silk Road, yuhuichen@xinhua.org)
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