China seen as global investment stabilizer

The country will also support Beijing's building of a comprehensive demonstration zone for the further opening-up of the service industry, and increase the number of comprehensive pilot projects to stimulate growth in this sector across the country, he said at a news conference during the ongoing third China International Import Expo in Shanghai.

Thanks to the nation's early recovery from the COVID-19 pandemic and its strong industrial and supply chains, human resources and well-developed infrastructure facilities, China has become a "stabilizer" and "safe haven" for global multinational investment, he said.

Zong predicted that foreign investment in the fourth quarter will continue on its current stable and positive trend.

FDI in China grew 5.2 percent year-on-year to 718.81 billion yuan ($107.2 billion) in the first three quarters of 2020, according to the Commerce Ministry.

With China introducing more measures to encourage and support foreign investment, including reducing the negative list, optimizing the business environment and strengthening intellectual property protection during the 13th Five-Year Plan, the nation attracted $549.6 billion in FDI between 2016 and 2019, according to the ministry.

Despite the continued downturn in global cross-border investment, China has remained a hot spot for global capital. In 2017, it became the world's second-largest destination for foreign investment, after the United States.