Foreign investors are intensifying their presence in China by opening new stores, launching innovative products, signing more cooperation contracts, and building production plants and R&D centers.
In the first four months of 2024, the number of newly established foreign-invested enterprises in China rose 19.2 percent year on year to 16,805, data from the Ministry of Commerce shows. A survey of more than 600 foreign-funded companies shows that over 70 percent of them are optimistic about the development prospects of the Chinese market over the next five years, and more than 50 percent believe the Chinese market has become more attractive, according to the China Council for the Promotion of International Trade.
The robust recovery of the Chinese economy, combined with the country's ever-improving business environment, has increasingly drawn the attention of foreign-invested companies, as they actively seek out new growth opportunities.
The resilience of China's massive consumer market has left a strong impression on foreign investors, particularly amidst the lukewarm global recovery. The growth momentum in the market has made it increasingly attractive for multinationals to seize new opportunities by better adapting to market changes.
"We can feel the recovery of the consumer market in China," said Arjun Purkayastha, senior vice president of Reckitt Greater China, noting that the company's revenue in China rose in the first half of 2023 and the growth continued in the past few quarters across its brands.
China's tourism market rebounded quickly with the easing of Covid-19 prevention and control at the beginning of last year, and foreign-invested firms have made ambitious plans accordingly.
