Expert: China remains a fertile land for foreign investment
China is still a fertile land for foreign investment despite the challenges posed by COVID-19, Wang Yuanhong, deputy director of Economy Forecast Department at State Information Center of China, told CGTN in an interview.
Wang said China's significant human resources, fast-developing new industries and consistently improving macro policies have all offered strong support to revive the economy.
With those advantages, Wang said China should stabilize foreign firms' expectations.
"We need to keep a high-level of opening up that adheres to the principles of marketization, legalization and internationalization," Wang said, adding that the country needs to work out the problems that foreign firms are concerned with, such as intellectual property, trade barriers and fair competition.
Wang said China has already introduced policies to create a better environment for business, like building a unified national market and launching preferential tax policies for international companies.
With COVID-19 flare-ups under control, China's State Council issued on Tuesday a wide-ranging package of policies guidelines aimed at boosting the country's economy. The package includes 33 measures in areas like fiscal support, investment and consumption. Provinces and cities have worked out their own economic recovery plans.
In terms of implementation of these measures, Wang said how to balance virus control and economic development is the key.
"Where do local governments' investment funds come from? How do we stabilize people's consumption? How do we ensure people's daily necessities? There are all the difficulties they need to face," said the deputy director.