Growing Closer to the US, China Widely Opens Doors for Investment

China- has revealed its intention to simplify the process for foreign institutions, including those from the United States, to invest in the country.

This information was disclosed by China's Vice Premier, He Lifeng, during a meeting with American financial executives, as reported by the country's state media.

 

15 Oil and Gas Projects Targeted to Operate in 2024, with Investment Valued at 8.7 Trillion Rupiah “China will continue to deepen reforms and open up its capital market in a two-way manner, facilitating cross-border investment and financing, and attracting more foreign financial institutions and long-term capital into China,” stated He Lifeng at the meeting, as cited from CNBC International on Thursday (1/11/2024).

 

The meeting between Chinese and US officials occurred as most foreign investors adopt a wait-and-see approach towards China amidst uncertainties over the economic developments of the world's second-largest economy and tensions with the US.

The MSCI China stock index fell by 11 percent in 2023. This marks the third consecutive annual decline and the first in the last 20 years, according to Goldman Sachs.

In a separate event, Lawrence Summers, President Emeritus of Harvard University, also attended a meeting with the Governor of the People's Bank of China, Pan Gongsheng, on Wednesday, as per a news release on the central bank's website.

Summers, a former US Treasury Secretary, hosted discussions on the global economy and stagflation. Earlier on Monday, Summers had also met with Shanghai Party Secretary Chen Jining.

Reportedly, face-to-face meetings between officials, executives, and academics from China and the United States have increased since the country ended its Covid-19 travel restrictions over a year ago.

China has been gradually allowing foreign financial institutions to take majority control of their local operations. Last year, securities regulators also implemented new rules to clarify the process for domestic companies to list their shares overseas.

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