China's robust economy drives multinational investment: report

Amid a world characterized by uncertainty, China's economic development shows robust resilience, and drives domestic investment by multinational companies, according to a report released by Chinese Academy of International Trade and Economic Cooperation

It reveals that from 2008 to 2022, China's economy maintained steady growth at an annual average rate of 10.2 percent, surpassing the corresponding global average by 7 percentage points. This growth rate also exceeded those of major world economies such as the United States, Germany, and India by 6.3, 9.6, and 2.5 percentage points, respectively.

The findings contend that China's economy, with its immense potential, will continue to be a crucial engine for global economic growth. Against global uncertainties regarding economic recovery, various international organizations and institutions such as the United Nations, World Bank, and the Organisation for Economic Co-operation and Development remain optimistic about the Chinese economy. Many of them have emphasized that China's economic expansion will play a pivotal role in driving global economic growth.

In the forecasts from the international organizations, China's economic growth rate for the year 2023 stands out among major countries and regions globally. It is notably better than the global average and significantly higher than that of major countries and regions such as the United States, Japan, the Eurozone, and Brazil. China's economic prospects are expansive and superior to those of other major world economies, providing a more stable and predictable economic environment for transnational investments.

The report indicates that in recent years, there has been an accelerated restructuring of the global industrial and supply chain, leading to higher uncertainty concerning international industrial development.

Against this backdrop, China has consistently strengthened its advantages in industries, research and development. It has continuously provided transnational corporations with comprehensive and systematic industrial support services, creating a stable and high-quality investment environment. This has attracted investments from transnational corporations and provided robust support for the growth of investment returns for these companies in China, the report said.

The report was released at the Qingdao Multinationals Summit in Qingdao city, east China's Shandong Province on Wednesday.