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THE Global Investment Trend Monitor released last October by the United Nations Conference on Trade and Development (UNCTAD) revealed that China had surpassed the U.S. in the first half of 2012 as the world’s largest recipient of foreign direct investment (FDI). The statement was corroborated by figures from China’s Ministry of Commerce: in the first three quarters of 2012, the foreign investment China’s mainland used in real terms added up to US $83.42 billion. Though this marks a 3.8 percent dip compared with the same period in 2011, the sum going into the service industry (excluding real estate) picked up.
Meanwhile, transnational corporations built more R&D centers and regional headquarters in the country, signifying their confidence in China’s investment environment and prospects for growth. The continued influx of global capital, technology and professionals led to more rational distribution and structure of FDI in China.
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The UNCTAD report shows that China attracted US $59.1 billion FDI in the first half of 2012, in comparison with US $57.4 billion in the U.S. This is the second time China has reached the summit of the global FDI chart since 2003.
The FDI saw a marked decline globally, largely attributable to uncertainties in world economic development, overshadowed as it is by the lingering EU debt crisis and slowing growth in emerging markets. The BRIC countries – Brazil, Russia, India and China – and South Africa all reported varied levels of FDI contraction.
Dr. James Xiaoning Zhan, head of the UNCTAD Division on Investment and Enterprise, noted that the three percent drop in FDI in China was among the smallest of the major economies, and aggregate investment remained high. He attributed the dent to China’s industrial restructuring, which prompted foreign investors to withdraw from labor-intense industries and those targeting low-end markets.
Hong Kong, whose FDI inflow was calculated separately in the UNCTAD study, was the world’s third largest FDI recipient, with US $40.8 billion over the January-June, 2012 period. An article published last October in The Wall Street Journal observed that China’s temporary holding of the No.1 position on the global FDI table would signal a change wherein more and more investors would turn to emerging economies where growth is brisk.
More Rational Structure
Though in general investors have tightened their purse strings, the provident are pouring more money into China, building development and research centers and regional headquarters, and upscale projects that could move the quality of FDI in the country up several notches.
Last November PepsiCo Inc. officially opened its innovation center in Shanghai, the food and beverage giant’s largest research and development center outside North America. An investment of more than RMB 250 million, the facility is intended to serve as a hub of new product development and identification as well as packaging and equipment innovation for PepsiCo’s businesses in Asia.
Earlier that year BMW, the world’s biggest maker of luxury cars, announced a plan to quadruple its production in China. At present the company runs three R&D centers in the country, in Shenyang, Beijing and Shanghai respectively, staffed by close to 500 technicians. The number is expected to reach 800 within three years.
So far foreign companies have opened 1,800-plus R&D centers in China, which are critical to their strategic development in the local market. Half of these centers are committed to the development of world leading technologies and over 60 percent aim for the global market.
Meanwhile transnational companies, including big names like PepsiCo Inc., Unilever, HP and Siemens, are steering more funds into traditionally less developed central and western China. Last September Unilever reached an agreement with the Sichuan provincial government to establish a green production base in the province, the third of its kind following one in Anhui Province and one in Tianjin City. Last year Siemens opened three branches in Sichuan, Jiangxi and Xinjiang, expanding its operation in the country to 16 R&D centers and 65 businesses.
China is now the world’s largest automobile market. In addition to scaling up investment, industry leaders such as Mercedes-benz, BMW, Volkswagen and Bosch are rolling out new models one after another. Aircraft makers have also joined the race. On the heels of Airbus, Eurocopter recently signed a memorandum of understanding with Tianjin to set up a completion facility for its AS350 Ecureuil family of light helicopters in the Chinese city.
According to the Ministry of Commerce, although the overall FDI in China in the first three quarters of 2012 was slightly below the same period of 2011, the share for central and western provinces showed a strong increase of 16.5 percent, a shift welcomed by the government. At present there are 663 foreign investment companies in China, 51 regional headquarters by the Ministry of Commerce’s definition. According to research by Long Guoqiang, director general of the Department of Foreign Economic Relations Research at the Development Research Center of the State Council, many transnational companies are amending their China strategies and diverting investment from low-cost manufacturing to hi-tech manufacturing, service sectors of higher added value and research and development. The transition is likely to have a highly beneficial effect on Chinese manufacturers, speeding up the country’s industrial upgrading.
Momentum Will Last a Decade
For years China has unswervingly followed its policy of opening-up and reform, active in global industrial collaboration and showing its commitment to establishing a transparent legal system, efficient administration and a fair market.
International investors have acknowledged these efforts. Tim Minges, chairman of PepsiCo Greater China Region, applauded China’s investment environment as affirmative and encouraging, the reason why his company has been piling up investment in the market. He said that Pepsi views China, the world’s largest and most vigorous consumer market, as critical to its future and hopes to explore growth opportunities here for both the local market and the company itself.
According to AmCham China and the European Union Chamber of Commerce in China, most foreign enterprises agreed that China’s strategic importance has grown in recent years. Ted Dean, chair of AmCham China, told the media that the organization’s Business Climate Survey found that most of its members are steadfast in their operations in China, and listed it among the world’s top three favorite destinations for investment. He mentioned some of China’s preponderances in terms of FDI, including a large talent pool, a mature education system, good infrastructure and an immense market. These are all draws to foreign investors.
The growing buying power of the Chinese people, coupled with massive industrial restructuring, creates new opportunities for foreign companies. Furthermore, the Chinese government pledges to open wider to the outside world, improve public services and local market mechanisms, and ensure a fair, stable and transparent climate for all businesses. Long Guoqiang believes that in the course of transition China will present new advantages, and that its global competitiveness is destined to improve. As such it will remain appealing to global investors in the coming decade.
Meanwhile, transnational corporations built more R&D centers and regional headquarters in the country, signifying their confidence in China’s investment environment and prospects for growth. The continued influx of global capital, technology and professionals led to more rational distribution and structure of FDI in China.
Back on Top
The UNCTAD report shows that China attracted US $59.1 billion FDI in the first half of 2012, in comparison with US $57.4 billion in the U.S. This is the second time China has reached the summit of the global FDI chart since 2003.
The FDI saw a marked decline globally, largely attributable to uncertainties in world economic development, overshadowed as it is by the lingering EU debt crisis and slowing growth in emerging markets. The BRIC countries – Brazil, Russia, India and China – and South Africa all reported varied levels of FDI contraction.
Dr. James Xiaoning Zhan, head of the UNCTAD Division on Investment and Enterprise, noted that the three percent drop in FDI in China was among the smallest of the major economies, and aggregate investment remained high. He attributed the dent to China’s industrial restructuring, which prompted foreign investors to withdraw from labor-intense industries and those targeting low-end markets.
Hong Kong, whose FDI inflow was calculated separately in the UNCTAD study, was the world’s third largest FDI recipient, with US $40.8 billion over the January-June, 2012 period. An article published last October in The Wall Street Journal observed that China’s temporary holding of the No.1 position on the global FDI table would signal a change wherein more and more investors would turn to emerging economies where growth is brisk.
More Rational Structure
Though in general investors have tightened their purse strings, the provident are pouring more money into China, building development and research centers and regional headquarters, and upscale projects that could move the quality of FDI in the country up several notches.
Last November PepsiCo Inc. officially opened its innovation center in Shanghai, the food and beverage giant’s largest research and development center outside North America. An investment of more than RMB 250 million, the facility is intended to serve as a hub of new product development and identification as well as packaging and equipment innovation for PepsiCo’s businesses in Asia.
Earlier that year BMW, the world’s biggest maker of luxury cars, announced a plan to quadruple its production in China. At present the company runs three R&D centers in the country, in Shenyang, Beijing and Shanghai respectively, staffed by close to 500 technicians. The number is expected to reach 800 within three years.
So far foreign companies have opened 1,800-plus R&D centers in China, which are critical to their strategic development in the local market. Half of these centers are committed to the development of world leading technologies and over 60 percent aim for the global market.
Meanwhile transnational companies, including big names like PepsiCo Inc., Unilever, HP and Siemens, are steering more funds into traditionally less developed central and western China. Last September Unilever reached an agreement with the Sichuan provincial government to establish a green production base in the province, the third of its kind following one in Anhui Province and one in Tianjin City. Last year Siemens opened three branches in Sichuan, Jiangxi and Xinjiang, expanding its operation in the country to 16 R&D centers and 65 businesses.
China is now the world’s largest automobile market. In addition to scaling up investment, industry leaders such as Mercedes-benz, BMW, Volkswagen and Bosch are rolling out new models one after another. Aircraft makers have also joined the race. On the heels of Airbus, Eurocopter recently signed a memorandum of understanding with Tianjin to set up a completion facility for its AS350 Ecureuil family of light helicopters in the Chinese city.
According to the Ministry of Commerce, although the overall FDI in China in the first three quarters of 2012 was slightly below the same period of 2011, the share for central and western provinces showed a strong increase of 16.5 percent, a shift welcomed by the government. At present there are 663 foreign investment companies in China, 51 regional headquarters by the Ministry of Commerce’s definition. According to research by Long Guoqiang, director general of the Department of Foreign Economic Relations Research at the Development Research Center of the State Council, many transnational companies are amending their China strategies and diverting investment from low-cost manufacturing to hi-tech manufacturing, service sectors of higher added value and research and development. The transition is likely to have a highly beneficial effect on Chinese manufacturers, speeding up the country’s industrial upgrading.
Momentum Will Last a Decade
For years China has unswervingly followed its policy of opening-up and reform, active in global industrial collaboration and showing its commitment to establishing a transparent legal system, efficient administration and a fair market.
International investors have acknowledged these efforts. Tim Minges, chairman of PepsiCo Greater China Region, applauded China’s investment environment as affirmative and encouraging, the reason why his company has been piling up investment in the market. He said that Pepsi views China, the world’s largest and most vigorous consumer market, as critical to its future and hopes to explore growth opportunities here for both the local market and the company itself.
According to AmCham China and the European Union Chamber of Commerce in China, most foreign enterprises agreed that China’s strategic importance has grown in recent years. Ted Dean, chair of AmCham China, told the media that the organization’s Business Climate Survey found that most of its members are steadfast in their operations in China, and listed it among the world’s top three favorite destinations for investment. He mentioned some of China’s preponderances in terms of FDI, including a large talent pool, a mature education system, good infrastructure and an immense market. These are all draws to foreign investors.
The growing buying power of the Chinese people, coupled with massive industrial restructuring, creates new opportunities for foreign companies. Furthermore, the Chinese government pledges to open wider to the outside world, improve public services and local market mechanisms, and ensure a fair, stable and transparent climate for all businesses. Long Guoqiang believes that in the course of transition China will present new advantages, and that its global competitiveness is destined to improve. As such it will remain appealing to global investors in the coming decade.