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According to the business confidence survey released by the European Chamber on the 20th, the surveyed European businesses had sound finance performance in 2017 but some complained about the inconvenience of the internet blockade in China. Around 60% of the companies expected further opening up of the market in China. How do you view the complaints from the European businesses? You said earlier that China will release the new negative list for foreign investment recently. Do you have a time table for implementation? Can the negative list solve the problems of the businesses? (2018-6-21)

We noted the survey report of the European Chamber. It is based on the survey of 523 European companies in China, and contained some bright spots. For example, in 2017, European businesses had improved operation in China. 66% of the respondents reported higher revenue than 2016, among which over 80% medical equipment producers and pharmaceutical companies delivered revenue growth. 93% of the companies delivered PBT growth, a record high since 2015. 61% of the respondents remained optimistic about their growth, up by 6 percentage points. The report attributed the better business performance to maturing Chinese market and expanding demand for high-quality products and services. It recognized that China has stepped up IPR protection, and the number of companies that believed China has proper and sound enforcement more than doubled the number in 2013. The R&D environment becomes more attractive, and is regarded as better than global average by 30% of the respondents, twice the number of 2016. 61% of the members to the chamber still view China as one of the top three investment destinations for now and the future.

Surely, there are some concerns from the European businesses in China, such as the transparency of laws and regulations, consistency of law enforcement, market access, and investment restrictions. We will continue to make efforts in investment liberalization and building a world-class stable, transparent, and predictable business environment for foreign investors, including European investors.

As for the new negative list that is coming out soon, it will significantly cut restrictive measures on market access and lift the level of opening-up. The list will be released on the 1st of July as scheduled. Thank you.

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