Visitors listen to executives from German company Merck introducing bioconvergence during the fifth CIIE on Nov 6. CHINA DAILY
China has recently adopted a series of new moves to better attract foreign investment, which include revising the catalog of industries for encouraging foreign investment and rolling out 15 new measures to promote foreign investment in the manufacturing sector.
"Recent data have again showed foreign investors are investing more in China," said Wei Jianguo, vice-chairman of the China Center for International Economic Exchanges.
He predicted capital, technologies, manufacturing capacities and talent will all flow into China at an accelerated pace, especially as the global industrial and supply chains are crimped due to factors like geopolitical conflicts.
According to the Ministry of Commerce, the actual use of foreign capital in the Chinese mainland expanded 14.4 percent year-on-year to 1.09 trillion yuan ($152 billion) during the first 10 months of the year.
The country not only has a huge and growing consumer market, but also provides the best mix of advanced manufacturing infrastructure, efficient logistics and high-quality skilled workers, said a report released in May by the Chief Investment Office of Switzerland-based investment bank UBS.
German agricultural and healthcare group Bayer AG said it has always been active in expanding local networks and partnerships, and strengthening its strategic collaborations with local industry partners to establish deeper and more lasting roots in China.
Over the years, the company has established a powerful local cooperation network encompassing research and development, production, sales, services, and public education.
During the recently concluded fifth China International Import Expo, the company signed some agreements and also launched some products. It established partnerships with new allies and renewed cooperation with old ones.
Among that was an investment agreement between Bayer Crop Science and Qiantang district of Hangzhou in Zhejiang province, where a new supply center will be built.
With an investment of more than 300 million yuan, the new supply center is planned to be operational by 2025. It will further meet the demand for innovative, efficient and green crop protection products in China and across the Asia-Pacific region.
