Dozens of foreign CEOs are gathering in Beijing this week for the annual China Development Forum (CDF).

Against the backdrop of heightened global uncertainty, Beijing is sending its message to the world: As the US pursues protectionist “America First” policies, the world’s second-largest economy is open for business.

Chinese Premier Li Qiang, again, urged for opening up at the CDF. “In today’s increasingly fragmented world with rising instability and uncertainty, it is more necessary for countries to open up their markets and enterprises… to resist risks and challenges

But without going beyond business deals, “opening up” risks becoming an empty promise.

With interactions with foreign business leaders at the Diaoyutai State Guesthouse this week, Chinese policymakers intend to tell the world that in contrast to “high walls,” the country is taking concrete measures to attract foreign investments.

In his meeting with heads of Apple, Pfizer, Mastercard, Cargill and others on Sunday (March 23), China’s Vice Premier He Lifeng reaffirmed the country’s business potential and sincerity in welcoming more investment from multinational companies.

China’s goodwill is reflected in its endeavors to improve the business environment. The Chinese Ministry of Commerce said in March that it has addressed more than 500 issues for foreign-funded companies via roundtable meetings.

So far, China has allowed 13 foreign-invested companies to access value-added telecommunications services. Additionally, more than 40 foreign-funded biotechnology projects have been launched and three new hospitals entirely owned by foreign entities have won approval to operate.

Nearly 90% of businesses operating in China are “very satisfied” or “relatively satisfied” with the country’s overall business environment last year, according to a survey released by the China Council for the Promotion of International Trade in January.

Source: Asiatimes