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Last year, China actually used foreign capital of 885.6 billion yuan.

March 10 2019

"The Global Investment Trends Monitoring Report" released by UNCTAD shows that global foreign direct investment continued to decline last year and fell to the lowest level after the international financial crisis. In this context, China successfully achieved the goal of “Stable Foreign Investment” and used foreign capital to create a record high.Since the beginning of this year, the new foreign investment plans have been on the scene: American oil company-Exxon Mobil Corporation plans to build a chemical complex in Daya Bay Petrochemical District, Huizhou, Guangdong. BT is the first international telecommunications company to obtain a national telecommunications license, Tesla Super factory started construction in Shanghai... Last year, the actual use of foreign capital was equivalent to US$135 billion, a new record.The use of foreign capital structure continued to optimize, and the use of foreign capital in high-tech manufacturing increased by 35.1%.Last year, the global investment situation was sluggish, and the number of foreign capital used in China was very bright:"60,000" - Last year, more than 60,000 new foreign-funded enterprises were established in China, a year-on-year increase of 69.8%. Nearly 1,700 large projects with contractual foreign investment of more than US$50 million, an increase of 23.3%. Major investment projects such as Tesla and BMW have made positive progress."135 billion US dollars" - Last year, China's actual use of foreign capital was 885.6 billion yuan, equivalent to 135 billion US dollars, an increase of 3% year-on-year.In 2019, China will be more attractive in the global investment market.

February PMI data show growing optimism on China's economy

February 28 2019

Fresh snapshots of China's manufacturing and non-manufacturing sectors showed a more positive outlook on the economy despite a seasonal dip in factory activities.Official data released on Thursday showed China's manufacturing sector expanded at a slower pace in February.The country's manufacturing purchasing managers' index (PMI) came in at 49.2 in February, narrowing from 49.5 in January, according to the National Bureau of Statistics (NBS).A reading above 50 indicates expansion, while a reading below reflects contraction.The sub-index for production, a major factor used in calculating PMI, edged down 1.4 points to 49.5 in February, while the sub-index for new orders rose to 50.6, an indication of expansion.NBS senior statistician Zhao Qinghe attributed the monthly decline in the manufacturing PMI to seasonal factors including production halts around the Chinese Lunar New Year.Zhao also noted the growing strength of new sources of growth, as the sub-index for production of the high-tech manufacturing sector continued to rise.Activities of hi-tech enterprises in the sectors of pharmaceutical manufacturing and communication equipment showed above-average vitality, Zhao said.Commenting on the February manufacturing PMI data, investment banking firm CICC said China's domestic demand is showing signs of recovery."Deflationary pressure receded in February, and production and business expectations rebounded visibly," CICC said.Thursday's data showed a four-month high reading of 56.2 for the production and operation expectations index, a marked rise of 3.7 points from January."Manufacturing PMI may rebound in the near term if the moderately reflationary credit cycle sustains," CICC said.The non-manufacturing purchasing managers' index came in at 54.3 this month, which means the non-manufacturing sector remained within the expansion range, according to the NBS.Indices for sectors including railway and air transport, telecom, banking and leasing stood above 55, indicating robust business growth.Market sentiment is improving as sub-indices for new orders and business expectation picked up by 0.3 and 1.8 points respectively from January, indicating growing service demands, the NBS said.The construction sector saw its activities shrink due to the Spring Festival holiday and bad weather but is likely to pick up the pace in the future as data shows rising business expectations.Source: China Daily

Greater Bay Area becomes domestic talent magnet, report shows

February 25 2019

The Guangdong-Hong Kong-Macao Greater Bay Area has become a rising destination for talent inflow, while still having much potential for attracting global professionals, a report showed.The region is one of the most attractive hubs for digital professionals in China, as it outperforms Beijing and Wuhan in digital talent inflow, according to a joint survey released Saturday by Tsinghua University and LinkedIn China based on the company's samples of 439,000 high-level talents and 118,000 talents working in the information and communication technology (ICT) sector in the area.China earlier this week unveiled a development blueprint for the Guangdong-Hong Kong-Macao Greater Bay Area, aiming to turn the region into a world-class city cluster and a powerful engine for reform and opening-up.Understanding and optimizing the human resources pattern will help propel the coordinated growth of different sectors and cities in the region, according to Wang Yanping, head of China Public Policy and Government Affairs at LinkedIn.The Greater Bay Area has the largest proportion of high-level talents in manufacturing, consumer goods and ICT, with over 10 percent for each of the three industries, the report showed.Technological and industrial innovation in big data, artificial intelligence, intelligent manufacturing, financial technology and other fields will become an important driving force and strategic support for developing the area, said Chen Yubo, head of the Center for Internet Development and Governance of Tsinghua University.The report also observed that the area appeals to global talents but needs to further boost its magnetism. Talent inflow from the United States and Britain outweigh the reverse flows, while inflow from Australia and Singapore lag behind the reverse flows.Shenzhen is the most appealing city both in terms of domestic and international talent flow. The tech hub is also the most magnetic city within the region.Hong Kong enjoys a large talent pool, but its talent exchange lags far behind Shenzhen and Guangzhou while Macao lags even further behind, leaving much room for the two special administrative regions to boost talent exchange with mainland cities.Compared with the San Francisco Bay Area and Sydney Bay Area, the Greater Bay Area shows stronger research and development capabilities but needs to catch up in entrepreneurship, according to the report.Source:China Daily

The "Outline of the Development Plan for the Guangdong, Hong Kong and Macao Dawan District" was be official issued

February 19 2019

On February 18th, the Central Committee of the Communist Party of China and the State Council issued the "Outline of the Development Plan for the Guangdong, Hong Kong and Macao Dawan District". This plan is a programmatic document guiding the cooperation and development of the Dawan District of Guangdong, Hong Kong and Macao at present and in the future. Planning for the near future to 2022, the long-term outlook to 2035.Guangdong, Hong Kong and Macau Bay Area includes Hong Kong Special Administrative Region, Macao Special Administrative Region and Guangdong Province, Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing, with a total area of 56,000 square kilometers. At the end of 2017, the total population is about 70 million. It is one of the regions with the highest degree of openness and the strongest economic vitality in China, and has an important strategic position in the overall development of the country.City positioningThe "Guangdong, Hong Kong, Macao and Dawan District Development Plan Outline" mentioned the optimization and upgrading of the central city. Taking the four central cities of Hong Kong, Macao, Guangzhou and Shenzhen as the core engines of regional development, and will continue to play the comparative advantages to become better and stronger, and enhance the radiation-driven role of the development of the surrounding areas. Regarding Shenzhen, it will play a leading role as a special economic zone, a national economic center city and a national innovative city, accelerate the establishment of a modern international city, and strive to become an innovative and creative city with world influence.Industry PlanningThe Outline proposes to promote the development of a new generation of Information Technology, Biotechnology, High-end Equipment Manufacturing, New Materials, etc. as the new pillar industry. A number of major industrial projects have been cultivated in key areas such as the New Display, Next-generation Communication Technology, 5G and Mobile Internet, Protein and Other Biomedical, High-end Medical Diagnosis and Treatment Equipment, Genetic Testing, Modern Chinese Medicine, Intelligent Robots, 3D Printing, and Beidou Satellite Applications. And a number of strategic emerging industry major projects will be implemented around key areas such as Information Consumption, New Health Technologies, Offshore Engineering Equipment, High-tech Service Industries, and High-Performance Integrated Circuits. And will cultivate and expand New Energy, Energy Conservation and Environmental Protection, New Energy Vehicles and other industries, and form an industrial gathering belt with energy conservation and environmental protection technology research and development and headquarters base as the core.

Foreign Investment Law (Draft)

February 01 2019

At present, the Standing Committee of the National People's Congress is actively revising the“Foreign Investment Law(Draft)” and collecting relevant suggestions for the whole people. With the investment promotion, investment protection and investment management as the main content, we will strengthen the promotion and protection of foreign investment.The “Foreign Investment(draft)” will focus on four aspects of foreign investment.Guarantee equal treatment of Domestic and Foreign-funded EnterprisesThe issue of equal treatment has always been a long-term appeal of Foreign-funded Enterprises. Ensuring equal treatment of domestic and foreign-funded enterprises is reflected in the draft provisions.Article 9 of the draft stipulates that, except as otherwise stipulated by laws and administrative regulations, the policies of the state to support domestic enterprises development are equally applicable to foreign-funded enterprises.According to the draft, foreign-funded enterprises participate in the standardization work equally, and the formulation of standards should strengthen information disclosure and social supervision. In addition, the State guarantees that foreign-funded enterprises participate in government procurement activities fairly. Government procurement is treated equally according to the products produced by foreign-funded enterprises in China.Incorporate policy measures to actively attract foreign investment into the law Since the reform and opening up, China has attracted foreign investment based on its national conditions and has become the second largest investor in the world.The Draft stipulates that the State establishes a sound foreign investment service system and provides consultation and services for foreign investors and foreign-funded enterprises in terms of laws and regulations, policy measures, and investment project information.The Draft stipulates that the people's governments at all levels and their relevant departments shall further improve the level of foreign investment services in accordance with the principles of convenience, efficiency and transparency. The relevant competent authorities shall prepare and publish foreign investment guidelines to provide services and facilities for foreign investors and foreign-funded enterprises.Further simplifying foreign investment managementAccording to the Draft, the approval and filing of foreign investment projects shall be implemented in accordance with relevant state regulations. Where the foreign investor invests in an industry or field that requires permission in accordance with the law, it shall go through relevant licensing procedures in accordance with the law. Except as otherwise provided by laws and administrative regulations, the relevant competent department shall review the application for permission of foreign investors in accordance with the conditions and procedures consistent with domestic investment.Strengthening the connection with International Investment RulesA major feature of the Draft is the emphasis on the protection of the legitimate rights of foreign investment, including expropriation and compensation, intellectual property protection, and the free transfer of capital, profits, capital gains, etc. These are important elements of international investment agreements.The Draft makes clear provisions on strengthening the protection of foreign intellectual property rights, and the improvement of foreign-funded enterprises' complaints and rights protection mechanisms.

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