Xinhua Denies Speculations of Foreign Investment Decline in China [TheGuru=Hong Seong-hwan] China's state-run Xinhua News Agency has refuted speculation that foreign companies are pulling out of China. According to the Korea Institute for Foreign Economic Policy, Xinhua refuted the pullout theory in a commentary on Nov. 21, citing the increasing number of stores in China by large food and beverage companies such as KFC, McDonald's, and Starbucks, Apple's announcement of plans to invest more in the country, GE Healthcare's doubling of R&D investment in China, and AstraZeneca's announcement of a $475 million investment plan. "Foreign capital shows that China is still a fertile ground for foreign investment and business," Xinhua said, "proving that the exaggerated claims by some Western media that there are no more opportunities in the Chinese market are not true." "The State Council issued the 'Action Plan for Expanding the Attraction and Utilization of Foreign Capital through Higher Openness to the World' to expand the market access of foreign capital and increase the degree of freedom for foreign investment, demonstrating China's willingness and action to share development opportunities with the world," Xinhua said. According to the "International Balance of Payments for 2023" released by the State Administration of Foreign Exchange on March 18, foreign direct investment in China totaled $30 billion last year. That's down 82 percent from the previous year. The $27.5 billion was the lowest level since 1993, when it was recorded, Bloomberg analyzed. It's less than a tenth of the $344.1 billion in 2021, when it peaked...
Weekly Best Articles
Iranian President Missing After Helicopter Crash in Mountainous Terrain
90-Year-Old First Black Astronaut Candidate Returns from Space Journey with Blue Origin
U.S. Ramps Up to Defend Against Satellite Threats from China, Russia
China-US Container Fright Rates Reach New Heights, Jump 40% in a Week
Baby Monster’s Performance Video ‘SHEESH’ Hits 100 Million Views on YouTube!
North Korea and Russia Discuss Restarting Train Services
Son Swindles Father for $1.4 Million to Fuel Online Gambling Spree
NewJeans’ Parents Hire Top Lawyer Amidst Company Clash
EU Targets Meta: Possible Fines for Child Safety Violations on Social Platforms
Microsoft Offers Global Opportunities to Chinese Staff as US-China Relations Tighten
EXO’s Suho Takes the Lead as a Lost Prince in New Hit Series!
Meet Young Posse: The Fresh Faces Rocking iHeartRadio’s Studio in NYC
Must-Reads
1
Are Men with High Testosterone More Prone to Heart Disease?
LIFESTYLE
2
Ugly Truth About Using Hand Cream as a Face Moisturizer
LIFESTYLE
3
New Research Unlocks Genetic Puzzles of Hypertension
LATEST
4
Scotland Offers $63,000 to Live on Stunning Islands - Here's Why
LIFESTYLE
5
Get Ripped in Record Time: The Truth About Muscle Building
Hot Topics