Canal Business District under construction in Beijing Municipal Administrative Center (Photo taken on August 20, 2020) Photo by Ju Huanzong/Xinhua

As an important part of the "Walking Davos" activities, the Policy Dialogue with NDRC and Global Companies of the World Economic Forum was held in Beijing Municipal Administrative Center on August 23.

Participants believed that, as global economic recovery is facing headwinds, more foreign companies have chosen to develop in China for its larger market, more resilient economy, and increasingly open attitude and actions. These companies will also become important market players in China's future quality development.

The Policy Dialogue

Tongzhou District People's Government of Beijing Municipality signed cooperation agreements with four multinational companies including the Energy Foundation China and Haskoll. Representatives of Chinese and foreign enterprises expressed their confidence in expanding their business in China with Beijing's as an important base.

Su Wei, Deputy Secretary General of the NDRC, said that foreign direct investment into the Chinese mainland, in actual use, expanded 17.4 percent year on year to 723.31 billion yuan in the first half of the year. In U.S. dollar terms, the inflow went up 21.8 percent from a year ago to 112.35 billion dollars. Both foreign trade and foreign investment achieved fast growth despite the high base last year. With concrete actions, China has proven that the new "dual circulation" development pattern involves both expanding domestic demand and opening wider to the outside world.

In order to achieve higher-level opening-up, China has shortened negative lists for foreign investment for five consecutive years, attracting more multinational companies to invest in the country. In 2021, there were 47,643 newly established foreign-invested enterprises (excluding banking, securities and insurance sectors) in China, up by 23.5 percent year on year.

"At present, the transition to green and low-carbon economy has become a major trend in the economic and social development. Many multinational enterprises have accumulated rich experience and technical capabilities in green, low-carbon, and circular development. We hope that by giving full play to their advantages, they will take an active part in China's industrial restructuring and upgrading as well as green and low-carbon transformation, and they are welcome to share the great opportunities of China's economic and social development," said Su Wei.

The North Canal in Tongzhou District, Beijing, with Canal Business District in the distance (Photo taken on July 16, 2020) Photo by Chen Zhonghao/Xinhua

Sui Zhenjiang, Vice Mayor of Beijing, said that the Beijing Municipal Administrative Center has deepened the reform to streamline administration and delegate power, improve regulation, and upgrade services in recent years. It has actively aligned with international rules, and made continuous efforts to build a market-oriented, law-based, and international business environment. It has been enhancing its attractiveness for domestic and foreign enterprises and its capacity to host them, expecting to share development opportunities with more multinational companies in the future.

According to Feng Jian, Deputy Director-General of Beijing Municipal Foreign Affairs Office, this event is an important initiative in the NDRC's effort to support Beijing in strengthening its role as the center for international exchanges. Beijing Municipal Foreign Affairs Office, together with the WEF, invited representatives from over 60 multinational companies to attend the Policy Dialogue and participate in various activities including visits, inspections, seminars, and exchanges, in a bid to gather international industrial resources for the quality development of the Beijing Municipal Administrative Center.

Chen Liming, Chairman of WEF Greater China, said that China has been making its due contribution to the world's sustainable development when developing itself. Multinational enterprises are the link between China and the world in terms of green development. We encourage multinational companies to promote advanced green and low-carbon technologies and actively participate in China's green, low-carbon, and circular development by leveraging their strengths.

"Walking Davos" is an event jointly initiated by NDRC and WEF. In recent years, it has been held in localities including Tianjin, Liaoning, Zhejiang, Sichuan, and Yunnan.

(Reporter: Luo Xin)