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Foreign companies shifting out of China a normal market activity: NDRC

作者:admin 2020-09-18

Foreign companies shifting out of China a normal market activity: NDRC

Meng Wei, spokesperson for China's National Development and Reform Commission (NDRC), at a press conference Sunday Photo: Song Lin/GT

Recent moves by international companies to shift production out of China can be seen as normal market activities, and China is committed to further opening up its
economy and improving its environment for foreign businesses, according to the top planning regulator on Wednesday. 

According to the National Development and Reform Commission (NDRC), due to rising costs and intensifying trade friction between China and the US, some international companies have been shifting their global production in recent years. 

"The shift is a normal market phenomenon," said Meng Wei, spokesperson for the NDRC. 

Foreign companies are still positive about the Chinese market, according to reports by several commerce chambers. According to the American Chamber of Commerce in Shanghai, 78.6 percent of surveyed companies said they will not move investment away from China, up 5.1 percentage points compared to last year. 

European companies also hold an optimistic view over their future in China. According to the European Union Chamber of Commerce in China, only 11 percent of the surveyed companies say they plan to move their operations out of China or change their investment plans. The figure is the lowest in a decade. 

"These figures show that the confidence of foreign enterprises to invest in China for the long term has not changed," Meng said. 

Global Times 

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