Foreign investment still optimistic about China: MOFCOM

Foreign investment remains optimistic about the Chinese market despite the impact of COVID-19 pandemic, said the country's commerce ministry.

China has not and will not experience a large-scale withdrawal of foreign capital, said the spokesperson of the Ministry of Commerce (MOFCOM) Gao Feng at an online press conference on Thursday.

Gao was responding a question raised by a reporter concerning the stories about foreign companies plan to move out of China.

Recently, Japan announced that it would spend upwards of 2.2 billion U.S. dollars to get its corporations out of China. And just in the same day, White House National Economic Council Director Larry Kudlow said the U.S. should "pay the moving cost" of American companies which wants to move out of China.

However, Gao said China is still a hot spot for foreign investment and business development.

"The resumption rate of foreign-funded enterprises in China is steadily increasing," said Gao. "Many Japanese companies have expressed their confidence in the Chinese market and their willingness to further invest in China."

According a report released by the American Chamber of Commerce in South China, 75 percent of the companies surveyed said they would not change their reinvestment plans in China regardless of the impact of the pandemic, added the spokesperson.

He said, the current global industrial chain and supply chain patterns are not formed "day and night," nor can anyone or country can change it.

From the long-term perspective, China's economy is changing from high-speed growth to high-quality development, Gao stressed. The good momentum of China's economic development fundamentals will not change.

(Cover: Guangzhou, Guangdong Province, China. /VCG)