Chinese Foreign Ministry Spokesperson's Remarks

Xinhua News Agency: We noted that recent mainstream Russian media reports say that China's efforts to strengthen market regulation will help foster a stable and favorable business environment in the long term and promote sustained and sound economic growth, and won't affect the appeal of the China market. Do you have any comment on this?

Wang Wenbin: Since the beginning of this year, China has continued to consolidate and expand the outcomes of COVID-19 prevention and control and socioeconomic development and achieved steady economic recovery while consolidating the positive momentum, demonstrating strong resilience and vitality. This has offered strong impetus for the world economy to return to the right track, regain confidence and resume growth. Meanwhile, to address the prominent issue of unchecked and disorderly expansion of some platform companies, the Chinese government has stepped up anti-monopoly regulation and taken lawful actions to crack down on monopoly and unfair competition behaviors. Efforts to curb disorderly expansion of capital have shown initial results and the order of fair competition is steadily improving.

The market regulatory measures taken in accordance with law by the Chinese government will help foster a market environment for fair competition, create broad space for the growth of all types of market entities, in particular small and medium-sized enterprises, and better protect the rights and interests of consumers. The Chinese government is committed to improving mechanisms for fair competition, reforming market regulation system, strengthening anti-monopoly regulation, working to build a high-standard market system that is unified and open with orderly competition, and foster a law-based international business environment that is more market-oriented. These efforts will ultimately benefit all investors, operators and consumers.

I would also like to stress that China's determination to open up will not waver and our door will only open wider. As an important destination for foreign investment, China attracted 4.5% more FDI last year despite the 40% drop in foreign investment globally. During the first half of 2021, FDI into the Chinese mainland in actual use surged 28.7% year-on-year. Foreign investors stay optimistic about the prospects of the China market. Going forward, we will continue to facilitate foreign businesses' investment and operation in China, and share the dividends of China's reform and development.

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