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2014 Business Review VIII: Foreign Investment and Cooperation in 2014 Realizes Steady and Rapid Development

In 2014, in the face of complex and volatile domestic and international trends, China鈥檚 foreign investment and cooperation maintained steady and rapid development and became a highlight of foreign trade and economic cooperation. In January-November, non-financial direct investment overseas totaled US$89.8 billion, with an increase of 11.9% year on year. The energy and mineral fields continued to be the investment hot spots and the cross-border mergers and acquisitions of agriculture made breakthroughs. The value of newly-signed foreign contracts reached US$160.98 billion, with an increase of 12.5% year on year and its turnover was US$121.3 billion, with an increase of 10.6% year on year. Large projects in infrastructure construction such as rail transportation increased, which drove the export of home equipment and materials. Foreign labor cooperation sent 498,000 various kinds of staffs with an increase of 63,000. By the end of November, various kinds of staffs overseas reached 1.005 million with an increase of 90,000.

In 2014, all sectors of society paid more and more attention to 鈥済oing abroad鈥 The Ministry of Commerce constantly improved all kinds of policy measures and realized developing and running foreign investment and cooperation in a reasonable range focusing on deepening reform, innovating systems, improving service, cultivating environment and protecting rights and interests, etc.

1. Deepen management system reform. The decision on deepening economic system reform by the Central Government was implemented, reform of the overseas investment management system was promoted, the Overseas Investment Management Measures was revised and introduced, the management mode of 鈥渇iling first and approval second鈥was established and the regulation that other overseas investment and enterprises except sensitive countries (regions) and industries can file was defined, the Foreign Direct Investment Statistics System was revised and issued, relevant statistical index was adjusted and improved, foreign labor cooperation and management was strengthened and the standards of petty cash of risk disposition of foreign labor cooperation were improved.

2. Strengthen governmental public service. Country environmental guidance of foreign investment and cooperation for enterprises was enhanced, the 2014 Country (Region) Guidance on Foreign Investment and Cooperation, the 2014 China Report on Foreign Investment and Cooperation Development and the 2013 Country Collection of Investment and Management Obstacle Reports were issued, which have become authoritative information channels for Chinese enterprises to know about the investment and cooperation environment of all countries in the world. The 2014 China Foreign Direct Investment Statistical Communique was released and the information service system of foreign investment and cooperation was improved. Efforts were made to do a good job in policy training of foreign investment and cooperation, building investment and promotion platforms and strengthening publicity and public opinion guidance.

3. Promote practical development of bilateral cooperation. Efforts were made to compile medium- and long-term development plan for foreign investment and cooperation fields, promote in-depth development of trade and economic relations between China and relevant countries, actively participate in formulating international rules, accelerate promoting the distribution of free trade zones, promote foreign direct investment in such key fields as agriculture and forestry, conduct transnational and transregional cooperation with Africa in infrastructure, encourage enterprises to implement the construction of such major overseas projects as high-speed rails, railways and nuclear power stations, steadily push forward major peripheral interconnection projects, strengthen inter-governmental cooperation, promote the construction of overseas trade and economic cooperation zones and drive cluster-style 鈥済oing abroad鈥

4. Strengthen overseas risk prevention and control. Efforts were made to strengthen country risk assessment and safety precaution, release safety precaution information, issue the Notification on Further Strengthening the Supervision Work of Safe Production of Overseas Chinese Enterprises, compile the evaluation system of exogenous risk management and control of overseas enterprises鈥projects, properly deal with emergencies occurring in Vietnam, Libya, Iraq and some relevant countries in West Africa involving China.

In the near future, Chinese economy will face the 鈥渘ew normal鈥of steady development and 鈥済oing abroad鈥will enter a new development phase of transformation and upgrading and improving quality and increasing benefits. In 2015, the Ministry of Commerce will continue to work with relevant departments to focus on improving development quality and benefits, accelerate cultivating new advantages to take part in international economic cooperation and competition and promote steady and sound development of the business of 鈥済oing abroad鈥

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