Chaoyang issues first foreign investment development report

Beijing's Central Business District [Photo/VCG]

Chaoyang district of Beijing issued its first foreign investment development report at the China International Import Expo (CIIE) held in Shanghai from Nov 5 to 10.

The report shows that the total contractual foreign investments in Chaoyang district over the past five years reached 55.3 billion US dollars and the actual utilized foreign capital was $30 billion, with an average annual growth rate of 22 percent. The number of foreign-funded enterprises settled in Chaoyang accounted for more than 40 percent of the city's new enterprises.

Chaoyang has been committed to creating a better business environment for foreign investment through measures like simplifying administrative procedures, building a more comprehensive social credit system, perfecting its service system and improving the living environment.

Beijing's Central Business District (CBD) exemplifies Chaoyang's efforts to improve the business environment. It established the enterprise credit supervision platform and the talent service platform, and created a communicative system covering all kinds of foreign enterprise business associations and multinational clubs. A mechanism was also set up to track the development of enterprises in the CBD and provide personalized service to solve their problems.

"The foreign investment development report issued by Chaoyang at the CIIE, introducing the overall investment environment, can let foreign-funded enterprises have an accurate and all-round understanding of Chaoyang and build a communication bridge between the local government and foreign-invested enterprises," said an official from the Chaoyang district commission of commerce.

The CIIE is a major move by the Chinese government to firmly support free trade and economic globalization and actively open the Chinese market to the world, which is conducive to economic growth, value creation and promotion of innovation.