China to further boost foreign investment as CIIE demonstrates confidence in Chinese market

China will continue to improve the utilization of foreign capital and make the country a lasting hot spot for investment, said Commerce Minister Wang Wentao in Shanghai on Sunday.

The remarks were made at the "Invest in China Year" Summit and Shanghai City Promotion, held in conjunction with the sixth China International Import Expo (CIIE). The summit looks to further expand foreign investment, encouraging foreign businesses to tap into development opportunities presented by the Chinese market.

In his speech, Wang said that China will reduce the negative list for foreign investment, completely cancel restrictions on access of foreign investment in the manufacturing sector, and expand the opening up of modern service industries.

Since the launch of "Invest in China Year", nearly 20 key investment promotion activities have been held, with more than 500 supporting events organized by local governments.

Foreign businesses cast vote of confidence in Chinese market

The CIIE, garnering worldwide attention, serves as a showcase of the vast investment opportunities that China has to offer. This year, it has set a new record with more than half of the Global Fortune 500 companies and industry leaders in attendance.

Foreign businesses at the expo reiterated their faith in the country's market and their approval of China's enduring commitment to high-quality opening-up.

German consumer goods giant Henkel is attending the event for the fifth year. Rajat Agarwal, president of Henkel Greater China, said the CIIE, as a great platform for multinationals to display their latest products and innovations, demonstrates China's commitment to open up to the world, in an exclusive interview with CGTN.

"China is the most competitive market in the world," said Ian Shah, president of Rockwell Automation China Experience. Successful practice and experience gleaned here can be duplicated elsewhere in the world, he added.

Jakob Stausholm, CEO of global mining leader Rio Tinto, recognized the potential and opportunities provided by the Chinese market, pointing out that Rio Tinto would not be the size it is today if it wasn't for the economic development of China.

(With input from Xinhua)

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