CCTV News: On February 20, the State Council Information Office held a regular briefing on the State Council’s policies.

At the meeting, Ling Ji, Vice Minister of Commerce and Deputy Representative of International Trade Negotiation, introduced that as of the end of 2024, foreign investors had invested and established more than 1.239 million enterprises in China, and actually used 20.6 trillion yuan of foreign capital. By actively attracting and utilizing foreign capital, my country has introduced funds, advanced technology and management experience, promoted economic development and tax revenue in various places, provided a large number of jobs, improved residents' living standards, and enriched the supply of goods and services. It can be said that foreign capital is a witness, contributor, and beneficiary of China's reform and opening up. At present, my country is committed to promoting Chinese-style modernization with high-quality development, so attracting foreign investment will continue to play an important role.

First of all, attracting foreign investment is an indispensable force for us to build a new development pattern. Foreign-funded enterprises in China contribute nearly 7% of their employment, one-seventh of tax revenue, about one-third of imports and exports, and one-half of mechanical and electrical products and high-tech products are not only an important part of the domestic circulation, but also a bridge and link connecting the domestic and international dual circulations.

Secondly, attracting foreign capital provides important support for building a modern industrial system. Up to now, foreign investment in China has covered 20 industry categories and 115 industry categories; in the manufacturing field, there are 31 major categories and 548 minor categories with foreign investment. As the only country with all industrial categories in the United Nations industrial classification, foreign capital plays an important role. Moreover, foreign-funded enterprises have driven cross-border flows of capital, technology, raw materials, products, services, etc. through their supply chains, allowing my country to deeply participate in global industrial division of labor and cooperation, which will help us build a more open and resilient industrial chain and supply chain.

Third, attracting foreign investment will help promote the formation of new quality productivity. Foreign-invested enterprises have become an important part of my country's science and technology innovation system. According to data released by the National Bureau of Statistics, from 2013 to 2023, the full-time equivalent of R&D personnel of large-scale foreign-invested industrial enterprises in my country increased from 629,000 to 838,000 per year, an increase of 33.2%, R&D investment increased from 201.51 billion yuan to 375.76 billion yuan, an increase of 86.4%, and the number of effective invention patents increased from 75,000 to 327,000, an increase of 336%. These data prove that in the future we will continue to adhere to open innovation, and develop our country's new quality productivity by actively attracting foreign investment and making full use of global innovation resources and innovative achievements.

Overall, actively attracting foreign investment will help better promote reform and development through opening up, while externally, better promote cooperation and win-win results through opening up. We welcome more foreign investors to come to China to invest and start businesses and participate in the Chinese-style modernization process.