Thanks to the impact of the China-US trade conflicts, global foreign direct investment is in the dumps. The Global Investment Trends Monitor issued by the UN Conference on Trade and Development shows global foreign direct investment fell by a large margin-19 percent-last year, marking a third straight year of decline.
But China bucked the trend, as 60,533 foreign-invested enterprises started business in China last year with the actual use of foreign investment reaching $132.12 billion, a year-on-year growth of 69.8 percent and 0.9 percent, respectively. Among which, high-tech manufacturing grew 35.1 percent, reflecting foreign investors' optimism on China's growth potential.
The draft foreign investment law shows China's firm resolve to build an open economy. And the strength of the draft law is that it complies with the trends and changes in the global investment system and stipulates more thorough and explicit implementation of the pre-establishment national treatment with the negative list for foreign investment, and embodies foreign investors' appeal to ensure freer and more convenient investment.