China is Confident About its 'Investment Climate' and Potential for Economic Growth
Anshu Shrivastava | | Jan 22, 2016 10:10 AM EST |
(Photo : Reuters/David Gray ) China's Foreign Ministry spokesman Hong Lei says that China's policy of using "foreign capital and protecting foreign enterprises' rights" will continue.
There is a growing global concern about China's slowing economic growth rate. A recent U.S. report claims that the investment climate in the world's second-largest economy is worsening. China, however, remains confident about creating a positive climate for foreign investors.
Like Us on Facebook
China remains committed to the policy of "using foreign capital and protecting foreign enterprises' rights," Chinese foreign ministry spokesperson Hong Lei is quoted as saying by Xinhua.
The report noted many investors are planning to, or already have, closed down some departments in China due to multiple factors, including rising labor costs, network supervision and anti-monopoly investigations.
The country, however, is still among the top three investment destinations, according to Xinhua. It reported that for 60 percent of the respondents, China was one of the three top investment countries, while for nearly 25 percent respondents, it remains a top priority. The report also noted that a majority of the enterprises, nearly 60 percent, continue to earn profits.
Meanwhile, a report released on Tuesday observed that China's economy saw its slowest growth rate in 25 years in 2015. The country's gross domestic product (GDP) reportedly grew by 6.9 percent year-on-year last year, which is at its weakest pace in a quarter of a century.
The Guardian reported that because of the slowing economy, China faces a series of challenges: "weak exports, high debt level and slowing investment."
Hong tried to allay such fears, saying that his country's economy has "great potential" for growth, and it is willing to "share the benefits from its development with the rest of the world."
The International Monetary Fund (IMF) has projected that China's economy will see a growth rate of 6.3 percent in 2016.
TagsChina economy, China-US economy, Report on China's economy, China top investment country
©2015 Chinatopix All rights reserved. Do not reproduce without permission
EDITOR'S PICKS
-
Did the Trump administration just announce plans for a trade war with ‘hostile’ China and Russia?
-
US Senate passes Taiwan travel bill slammed by China
-
As Yan Sihong’s family grieves, here are other Chinese students who went missing abroad. Some have never been found
-
Beijing blasts Western critics who ‘smear China’ with the term sharp power
-
China Envoy Seeks to Defuse Tensions With U.S. as a Trade War Brews
-
Singapore's Deputy PM Provides Bitcoin Vote of Confidence Amid China's Blanket Bans
-
China warns investors over risks in overseas virtual currency trading
-
Chinese government most trustworthy: survey
-
Kashima Antlers On Course For Back-To-Back Titles
MOST POPULAR
LATEST NEWS
Zhou Yongkang: China's Former Security Chief Sentenced to Life in Prison
China's former Chief of the Ministry of Public Security, Zhou Yongkang, has been given a life sentence after he was found guilty of abusing his office, bribery and deliberately ... Full Article
TRENDING STORY
-
China Pork Prices Expected to Stabilize As The Supplies Recover
-
Elephone P9000 Smartphone is now on Sale on Amazon India
-
There's a Big Chance Cliffhangers Won't Still Be Resolved When Grey's Anatomy Season 13 Returns
-
Supreme Court Ruled on Samsung vs Apple Dispute for Patent Infringement
-
Microsoft Surface Pro 5 Rumors and Release Date: What is the Latest?