Enduring allure of irresistible Chinese economy

MNCs double down on their China play, while FDI rises as glad tidings dispel uncertainties

China's new "dual circulation "development pattern, its sharpened focus on reform and opening-up, effective epidemic control measures for resumption of industrial activity, and the sense of anticipation about the announcement of details of the 14th Five-Year Plan (2021-25) are all encouraging foreign companies and foreign investors to double down on their commitment to the Chinese economy, industry experts said.

Many multinational corporations such as General Electric, Fujifilm, Schneider Electric, Schindler Group, and Air Liquide Group are swearing by their expansion plans in China, in spite of the pandemic's impact on their financial performance this year.

Meanwhile, foreign direct investment continues to show a robust trend in China, reflecting the economy's enduring allure against a background of trade tensions, unilateralism, protectionism, deglobalization and gloom-and-doom economic forecasts.