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China's reforms generate opportunities for foreign investors -- expert

Updated: February 13, 2019 Source: Xinhua News Agency
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New policies introduced by the Chinese government will create opportunities for foreign investors and have boosted foreign investment, a share market expert has said.

Citing the financial stability policies made by the government, Biyi Cheng, head of China operations at the financial services company CMC Markets, said the measures in recent years increased the likelihood of further foreign investment as it made regulations and market rules clearer.

"Recent new policies announced by the People's Bank of China and State Council of China have generated huge business opportunities for overseas investors, and we have seen the first wave of foreign investments rush into joint ventures with local financial institutions," Cheng said in an interview with Xinhua.

China has taken a series of measures including the widening of market access for foreign investment while building a better business environment to attract and encourage foreign investors. In 2019, the government will make even more efforts to promote the country's opening-up initiative.

By the end of October 2018, a total of nearly 950,000 foreign-funded companies had registered in China, bringing in an accumulated investment of over 2.1 trillion U.S. dollars and performing as a major driving force in China's economic and social development.

According to Cheng's forecast, China's economic growth might slow down in the first half of 2019 partly due to an unstable external environment. However, he believed that the Chinese economy is large enough to deal with unfavorable factors and pullbacks.

CMC Markets entered the Chinese market over a decade ago to meet the growing demand in the Chinese economy for financial products. The company announced the opening of a Shanghai office in October 2017.

On China's stock market, Cheng said that currently, Chinese stocks are in a correction momentum which may continue throughout the beginning of this year.

"Once the investors regain confidence with improving fundamentals, the China stock market is definitely one of the markets worth paying attention to in the next few years," he said.

According to him, the global market in 2019 is a much steadier one than in the volatile year before, with emerging markets recovering and converging more with developed economies.

Editor: 曹家宁