China to further attract more foreign investment in 2017
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Shen Danyang, spokesperson of China’s Ministry of Commerce, speaks at a press conference on December 29, 2016. [Photo: mofcom.gov.cn]

China is going to further expand its opening-up and lift more restrictions so as to ensure the stability and consistency of foreign investment.

Ministry of Commerce spokesperson Shen Danyang said that foreign trade in China has been developing at a stable pace and going quite well.

"In the first 11 months of this year, the actual use of foreign investment has increased by 3.9% compared to the same period of last year. The amount in tertiary industries rose by 3.8% with the foreign investment's structure being optimized. The stable development of foreign trade and investment also brings support to enhancing the balance of international payments," said Shen Danyang.

Stats have shown that the annual amount of actual use of foreign investment in China surpassed 110 billion U.S. dollars since 2010.

Shen Danyang said that the Chinese market has huge potential to attract more foreign investment, and there is no evidence showing that the investment environment in China is deteriorating, causing the loss of opportunities.

"The consumption demand in China currently means huge marketplace and potential, especially in terms of the consumption on high-quality commodities and services, as well as the upgraded consumption in rural areas," said Shen Danyang.

He added that the opportunities for foreign investment will become even brighter thanks to Chinese economic development under the new normal.

"With the industrial structure being adjusted, the input in research and development being added, with productivity increasing and the promotion of entrepreneurship and innovation, foreign enterprises will receive much more opportunities to invest in China," said Shen Danyang.It's expected that by 2020, the total value of consumer goods retailed in China will reach 10 trillion U.S. dollars, while the amount of imports to China will surpass 8 trillion dollars in the next 5 years.

Author： 　　　Source：CRI　　　 Editor：Yang Fan