China's relaxation of market access further boosts foreign investors' confidence

China

China's relaxation of market access further boosts foreign investors' confidence

2024-09-09 11:51 Last Updated At：15:47

China's stepped-up efforts to optimize the business environment and further relax market access have significantly boosted the confidence of foreign investors.

Since the roll-out of China's first version of the negative list for foreign investment access in 2013, the list has seen multiple revisions and reductions. The 2024 version of the negative list, effective Nov 1, reduces the number of restrictions from the original 93 to 29, achieving zero restrictions on the manufacturing sector.

The move has been welcomed by foreign investors who are eying to enhance their China market presence.

"Everything which opens the market we appreciate it, because we also have to see that in the last five years, Chinese companies developed so fast and became so competitive, not only price competitive but also from a technological perspective. So, there's also no needs to protect the market anymore, so opening up makes sense," said Maximilian Butek, executive director of German Chamber of Commerce in China-East China.

As China continuously relaxes its foreign investment regulations, foreign-funded enterprises have been actively restructuring their investment strategies. So far, foreign investment in China has covered 20 industries and 115 major categories.

"China has been committed to enhancing a fair competition environment in recent years. Between 2017 and 2023, the amount of China's actual use of foreign investment increased by 25 percent, and the share of foreign capital used in China's high-tech field increased to 37.4 percent during the same period, an increase of 10 percentage points," said Zhang Wei, vice president of Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce.

Beijing consumer gold market remains hot despite rising prices

2024-09-17 04:15 Last Updated At：08:17

Beijing's consumer gold market has been running hot during the Mid-Autumn Festival holiday, despite recent rises in the gold price on international markets.

Last week, the main contract for gold futures on the New York Mercantile Exchange (COMEX) has risen to over 2,600 U.S. dollars per ounce.

At a gold shop in Beijing's Xicheng District, the price of pure gold jewelry went up to about 737 yuan (about 104 U.S. dollars) per gram, but many shoppers are still looking to buy gold jewelry especially during the Mid-Autumn Festival holiday and the end-of-summer wedding season.

"It is now more than 700 yuan (about 98.7 U.S. dollars) per gram, but when we were here about two months ago, it was only just above 600 yuan (about 84.6 U.S. dollars) per gram," said a customer.

"I'm getting married, so I came to have a look. Even if the price goes up, we still have to buy it," said another customer.

"I had nothing to do during the holidays, so I came here to take a look [at the gold jewelry]. I just bought a lucky charm bead and now I want to take a look at the bracelet," said another customer.

At the shop's gold investment counter, many consumers have been making inquiries about gold bars, which has long been considered a safe investment, although experts recommend caution in the rising gold market.

At the shop's gold investment counter, many consumers have been inquiring about gold bars, which have long been considered a safe investment. However, experts recommend caution in the rising gold market.

"Many investors will buy gold bars for medium- to long-term investment based on their expected price as part of their overall family asset allocation. We suggest that investors be more rational in their decisions," said Li Yang, a senior gold investment analyst.