China's Commerce Minister Chen Deming on Monday ruled out concerns that the country is less welcoming foreign investment.
In an opinion piece published in the Financial Times, Chen wrote, "China will open wider in the future." "As China works with others to push the global recovery, tremendous opportunities will open up for foreign companies," he added.
He stated that China remains a top destination for investment by multinational companies, particularly in services and outsourcing. In 2009, global foreign direct investment dropped by nearly 40%, but investment into China fell only 2.6%, Chen pointed out.
Further, the minister said China must now work to upgrade its own industries in areas such as high-end manufacturing and environmental goods and services. The world economy is at a crucial stage of restructuring. With China's openness to business, the rest of the world can benefit, he asserted.
For comments and feedback: editorial@rttnews.com