The COVID-19 outbreaks and the downward economic pressure have posed short-term challenges to certain market players in China in 2022. But many foreign-funded firms have stayed upbeat and even upped their local investment, indicating their confidence in the country’s growth in the long run.
In the first 11 months of 2022, China’s foreign direct investment (FDI) totaled 1.156 trillion yuan (about 166 billion U.S. dollars), up 9.9 percent year on year. The amount already surpassed the total of 2021.
Over 99 percent of the surveyed foreign firms are confident about China’s economic outlook in 2023, and 98.7 percent said they would maintain and expand their investment in China, a report by the country’s top trade-facilitating body revealed this week.
As China continues to expand domestic market demand, presses ahead with industrial innovation, and facilitates the circulation of domestic and international markets, many foreign-invested firms seek to reorient their roles in the country’s new development pattern, underscoring their long-term confidence in operating in China.