China says still "attractive" destination for U.S. investment despite business lobby report's findings

Record ID: 164713

  • Title: China says still "attractive" destination for U.S. investment despite business lobby report's findings
  • Date: 18th January 2017
  • Summary: BEIJING, CHINA (JANUARY 18, 2017) (REUTERS) CHINESE FOREIGN MINISTRY SPOKESWOMAN HUA CHUNYING WALKING IN FOR REGULAR BRIEFING MEDIA SEATED (SOUNDBITE) (Mandarin) CHINESE FOREIGN MINISTRY SPOKESWOMAN HUA CHUNYING SAYING: "The report you refer to--I don't know what considerations were involved in releasing the report at this point, or if its information is particularly accurate and comprehensive. Here I have a number, and I think there are some contradictions. According to last year's statistics from China's ministry of commerce, the U.S. unilateral investments in China year-on-year grew by 52.6 percent. This shows that China is very attractive for U.S. companies." MEDIA SEATED (SOUNDBITE) (Mandarin) CHINESE FOREIGN MINISTRY SPOKESWOMAN HUA CHUNYING SAYING: "China's big door has always been open to the outside world. It won't close. At the same time, we hope that the doors of all countries are fairly opened to Chinese investors." NEWS CONFERENCE IN PROGRESS EXTERIOR OF CHINESE FOREIGN MINISTRY CHINESE NATIONAL FLAG FLYING
  • Embargoed: 1st February 2017 10:45
  • Keywords: China U.S. investment business
  • Location: BEIJING, CHINA
  • City: BEIJING, CHINA
  • Country: China
  • Reuters ID: LVA0015ZLXTHP
  • Aspect Ratio: 16:9
  • Story Text: China's foreign ministry said on Wednesday (January 18) the country remains domestically an "attractive" destination for U.S. investment despite the findings of a report by a U.S. business lobby.
    The American Chamber of Commerce in China's annual survey, released on Wednesday, reinforces growing pessimism in the foreign business community, as it grapples with a slowing Chinese economy and complains of increasing protectionism.
    The chamber said the share of companies that identified China as a top three global investment priority dropped to 56 percent this year, compared with a peak of 78 percent in 2012, a record low.
    When asked to comment on the report's findings at a daily news briefing, Chinese Foreign Ministry Spokeswoman Hua Chunying questioned its accuracy.
    "The report you refer to--I don't know what considerations were involved in releasing the report at this point, or if its information is particularly accurate and comprehensive. Here I have a number, and I think there are some contradictions. According to last year's statistics from China's ministry of commerce, the U.S. unilateral investments in China year-on-year grew by 52.6 percent. This shows that China is very attractive for U.S. companies," Hua said.
    Hua reiterated that China is committed to opening up.
    "China's big door has always been open to the outside world. It won't close. At the same time, we hope that the doors of all countries are fairly opened to Chinese investors," she added.
    Eighty-one percent of the 462 companies included in the survey, among them U.S. and multinational firms, said foreign business was less welcome in China than in the past, up from 77 percent in 2016.
    Foreign businesses in China, as well as foreign governments, have long complained about a lack of market access in China and restrictive policies that run counter to its pledges to free up markets.
    Though President Xi's speech at the World Economic Forum in Davos painted a picture of China as a "wide open" economy, more than 60 percent of the chamber's members had "little or no confidence that the government is committed to opening China's markets further in the next three years".
    Respondents estimated on average that China's economic growth for 2017 would be 6.1 percent, below what sources have told Reuters would be a government target of around 6.5 percent.
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