Recently, in an exclusive interview, Wu Jianghao, Chinese ambassador to Japan, gave a detailed analysis of the current situation and brilliant prospects of China's economy to the well-known Japanese financial magazine "Caishi". In the interview, he also clarified his position on China-Japan economic relations and related issues.
When asked whether global companies, including Japanese companies, are accelerating their withdrawal from China in the context of the Sino-US confrontation, Wu Jianghao said that as a market economy country, China has always respected the market choice of foreign-funded enterprises, and it is the norm for the market to have in and out. It is true that some foreign companies have chosen to leave for various reasons, but this is far from the so-called "exodus".
He further pointed out that in recent years, due to multiple factors such as the new crown epidemic, geopolitical tensions and protectionism, global cross-border investment has generally declined. However, in contrast, foreign investors' enthusiasm for investing in China has not weakened, but is more optimistic about China's development prospects. According to statistics, the number of newly established foreign-invested enterprises in China will increase significantly in 2023, and the actual utilization of foreign capital will also remain high, showing the strong attractiveness of the Chinese market.
Wu Jianghao also stressed that China is continuing to optimize the structure of investment, and the proportion of investment in high-tech industries is increasing year by year. In the context of economic transformation and upgrading, the rise of local enterprises and increasingly fierce market competition, it is normal for some foreign-funded enterprises to withdraw from the market due to lack of competitiveness. At the same time, Chinese companies are also actively expanding overseas markets, which is the result of the role of market rules.
For Japanese companies, the Chinese market remains hugely attractive. According to a survey conducted by the Japan Promotion Agency (JETRO), the vast majority of Japanese companies want to continue to expand their business in China or maintain the status quo. In addition, the rate of return on foreign direct investment in China has remained stable at a high level in the past five years, and the rate of return on investment by Japanese companies in China is much higher than that of other markets, which fully proves the investment value and potential of the Chinese market.
Finally, Wu Jianghao said that China will continue to unswervingly promote high-level opening-up and provide more development opportunities for countries around the world. He stressed that China's development cannot be separated from the world, and the world's development also needs China. China will always maintain an open attitude and welcome global investors, including Japanese companies, to invest in China and share the dividends of China's development. This statement fully demonstrates China's self-confidence and responsibility as the world's second largest economy.