Foreign investment has strong confidence in China's development,
Dalian's "friends circle" further expands
As chilly wind swept across Dalian’s coasts on the Greater Snow day (in the solar term), a lively discussion took place indoors. The NDRC and the WEF jointly organized a delegation of multinational enterprises to visit Dalian and held a policy dialogue on Dec 7th. Chen Shaowang, mayor of Dalian, said that Dalian has deepened cooperation with leading global companies by hosting the Summer Davos Forum and the city’s "friends circle" for economic and trade exchanges is constantly expanding. “119 of Fortune Global 500 enterprises have invested 279 projects in Dalian as of now.” LI Bin, First-Class Counsel (DG-level), Department of International Cooperation of NDRC said that, China’s foreign investment in actual use reached 800.68 billion yuan from January to October, with a year-on-year increase of 6.4%, demonstrating the strong confidence from foreign companies in China’s development.
Deepen pragmatic cooperation to attract more foreign investment
This year’s Summer Davos Forum cannot be held as scheduled due to the covid-19 epidemic. Many multinational entrepreneurs have actively expressed their concerns about China’s economic development and foreign policies through various channels. Against this backdrop, the NDRC and the WEF have adopted innovative cooperation methods, jointly organizing representatives of multinational companies to visit domestic cities on a monthly basis to participate in government-corporate networking activities. Three series of events have been organized this year, aiming to deepen the pragmatic cooperation with the WEF, actively respond to businessmen’s needs, further publicize China’s opening-up policies and attract more foreign entrepreneurs to invest and grow their business in China. The government-enterprise policy dialogue held in Dalian is the third in a row.
Dalian shares the same “quality” with Summer Davos Forum
Why was Dalian chosen to be the city to host the third event this year? According to LI Bin, it is because Dalian is the opening-up window of northeast China, which is actively fostering the superior business environment in recent years. Dalian has expanded accessible market areas for foreign enterprises, focused on industrial high-quality development, guided foreign investment to industries such as advanced manufacturing, high-tech industry, energy-saving and environmental protection, and accelerated the opening-up and cooperation in the service sector. At the same time, Dalian further leverages its location advantage as an important international shipment center in Northeast Asia, focuses on the future "Bohai Rim Greater Bay Area" coordination, actively participates in Northeast Asia and global economic cooperation and competition, and construct the regional world-class economic layout for high-quality development. Dalian, as one of the cities alternatively hosting the Summer Davos, has a solid cooperation foundation with the WEF. The successful holding of previous Summer Davos forums has enabled Dalian to benchmark world-class cities in economic development, scientific and technological innovation and environmental protection, and to embrace the world with a more open attitude. Dalian shares the same “quality” with Summer Davos Forum which is“potential and growth”. This is what the multinationals value most.
Mayor Chen Shaowang mentioned in the speech that, Dalian is a city that practices the spirit of Davos as the home for multinational member enterprises to invest and grow their businesses. Since the beginning of this year, Dalian has focused on the policies of stabilizing foreign trade, foreign investment and promoting consumption. Dalian has gone all out to stabilize the foreign investment and foreign trade, and timely introduced supportive policies for foreign trade companies. Dalian has also set up special work groups to provide follow-up services to 220 major foreign trade enterprises on a case by case basis, so as to help them to overcome the difficulties. In the first three quarters,725 projects over 100 million yuan restarted, with a year-on-year increase of 30.9%. A number of major projects have started construction steadily and smoothly. Dalian has been elected as the “National Pilot City for Innovative Development of Services Trade”, “National Demonstration Area for Import Trade Promotion and Innovation”, one of the first batch of“National Export Base for Digital Services”, “Demonstration Area for China-Japan(Dalian) Local Development and Cooperation” “National Benchmark City for Fostering Internationalized Business Environment”. Dalian has been rated as the“National Civilized City” for six consecutive years. Dalian has made its due contribution to building the moderately prosperous society in an all-round way and forge the new path to build a modern socialist country of all aspects.
A reporter from China Economic Herald learned at the policy dialogue that as a "blessed land" for foreign enterprises to invest and develop, in recent years, Dalian has made concerted efforts to promote strategic cooperation with multinational enterprises and continuously introduce projects from the world's top 500 companies and top 100 industries. Nidec Corporation, Grob, Goodyear, Sanken Electric Appliances and other existing foreign enterprises continue to expand investment in Dalian, and the world's top 500 companies continue to "raise stake" in Dalian, which has become an important force to promote the city’s high-quality economic and social development.
Zhou Bing, vice president of Dell Greater China, said that Dalian is a very important part of Dell's strategic layout in China. "Next, we will expand the scale and business scope of our global command center and global service center in Dalian." Why is your company so interested in Dalian? "We are optimistic about the investment environment in Dalian. Dell will give full play to the regional geographic advantages of Dalian and continue to expand our business scope in China."
Because of the rapid development of China's commercial vehicles, Knorr has once again put its future development plan in Dalian. Xia Fei, Executive General Manager of Knorr Commercial Vehicle System China expressed so.
Why continue to increase investment in China? Xia Fei believes that this is because of the rapid development of China's commercial vehicle market and China's inviting investment environment. “Knorr’s business in China has grown steadily and rapidly over the past decade, growing by about 10% to 20% per year, especially since this year's outbreak of COVID-19, it is expected to exceed 50%." Xia Fei gave an example that since the outbreak of COVID-19, Knorr's European business, coupled with North American car sales, has fallen sharply, while China's sales have reached an all-time high, with 1.9 million trucks and commercial vehicles been sold, the Chinese market boasts a bright future.
Foreign companies have strong confidence in China's development Dalian has broad prospects
Li Bin, pointed out that China is striving to build a new development pattern, promote a higher level of opening up, and create a market-oriented international business environment governed by the rule of law. From January to October this year, the paid-in foreign capital in China reached 800.68 billion yuan, an increase of 6.4% year on year. A number of major foreign-funded projects, including Shenyang BMW No.3 Factory, Huizhou ExxonMobil petrochemical project and Shanghai Tesla project, have been successfully implemented, showcasing the strong confidence of foreign-funded enterprises in China's development. Good results have been achieved in stabilizing foreign investment, which are supported by three favorable factors: first, the continuous expansion of opening-up; second, the continuous improvement of business environment; and third, the resilience of China's economic development. China's comprehensive advantages of attracting foreign investment, which mainly include super large domestic market, complete industrial supporting facilities & infrastructure, and rich human resources have not changed, China remains the hot land for attracting foreign investment.
According to Mayor Chen Shaowang’s introduction, for the next step, Dalian will focus on building a new highland of opening up, make full use of RCEP's favorable conditions in terms of investment, trade and service, strive to build a Free Trade Port in northern China, and effectively shoulder the pilot task of "China –Japan-South Korea Free Trade Zone”. In the future, the trade between Dalian and the WEF and its member enterprises will be more frequent and closer, and the trade cooperation fields will be more extensive and diversified. As an important industrial base in China, Dalian boasts a strong industrial foundation with complete industrial sectors and relatively concentrated large-scale backbone enterprises. Multinational enterprises have advanced technology and high-quality products in many industries, while China has an extensive market potential. Dalian is confident and capable of facilitating a good production base for multinational enterprises to explore the Chinese market. With regards to further deepening scientific and technological cooperation, Dalian has 31 institutions of higher learning including Dalian University of Technology and Maritime University, with 350000 college students; more than 100 scientific research institutions, such as Dalian Institute of Chemical Physics of the Chinese Academy of Sciences, Energy Institute of the University of Chinese Academy of Sciences, and Sinopec Dalian Petrochemical Research Institute; thousands of IT-oriented high-tech companies and more than 200,000 software industry employees. Dalian is also one of the TOP 100 World Most Influential Cities in the AI field, which is rated by a world authoritative media. Clean energy technology, stem cell research and other fields are among the best in China. Dalian hopes to further strengthen cooperation with multinational enterprises, especially high-tech enterprises, and jointly develop incubators and accelerators for high-tech industrial cooperation.
Since 2015, Dalian has been on the list of "International Financial Center Cities" for 11 consecutive periods. It is one of the 10 listed cities from mainland China. Dalian has the fifth largest number of foreign financial institutions in China and the most in Northeast China. The city has been awarded the titles of "the first batch of Pilot Cities of Three-Networks Integration ", "the first batch of Pilot Demonstration Cities of Smart City ", "the first batch of Pilot Demonstration Cities of Information Consumption", "the first batch of Broadband China Demonstration Cities", "China's Leading City of Smart City" and "China's top 10 Digital Reading Cities". Mayor Chen Shaowang also expressed his willingness to strengthen cooperation with the WEF and multinational enterprises in the fields of finance and digital economic development.