/ world today news/ The Chinese market remains attractive to foreign companies, Zhang Xin, spokesman for the China Council for the Promotion of International Trade (CCPIT), said at a press conference on Tuesday, citing a survey that found more than 80 percent of foreign-funded enterprises are satisfied with the business environment in the third quarter.
The survey, covering 700 companies with foreign assets, shows that technological innovation and research and development are the biggest opportunities for development in the Chinese market, and about half of those surveyed are ready to increase investment in western regions for the third consecutive quarter. About 70 percent of companies “remain stable” in the layout of their industrial chains in China, up 4.57 percentage points from the second quarter.
One highlight identified in the study is that foreign investors have begun to integrate into the core supply chain dominated by leading Chinese companies, particularly in the electric vehicle sector. An example is Volkswagen, which invested approximately $700 million in Chinese electric car maker XPENG Motors, acquiring a 4.99 percent stake.
In the first three quarters of the year, 37,814 new foreign-invested enterprises were established in China, up 32.4 percent year-on-year, according to the Ministry of Commerce. The data also showed that foreign capital actually used in manufacturing amounted to 262.4 billion yuan ($35.9 billion), up 2.4 percent year-on-year.
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