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Seventy per cent of established businesses in China plan to increase their investments in the coming five years, according to a report jointly released by China Development Research Foundation and PricewaterhouseCoopers (PwC).
Steadily expanding domestic market, improving competition environment, technology talents, government’s stimulus measures, cheap labour, and favorable tax policies are among the major attractions for foreign investments.
China will target a foreign trade volume increase by around 8 per cent in 2013, according to a new government report.
China has replaced the US as being the largest trading partner of most nations in the world.
Emerging economies, including India, Brazil, Turkey and some African countries, are also on the rise as top foreign investment destinations, the report said.
Latest official data showed foreign direct investment (FDI) into China came in at $8.21 billion in February, up 6.32 per cent year on year.
Deepening reform and opening up with “greater political courage and vision” is the call from the opening session of China’s parliament.