China sees drastic increase in foreign-invested firms
Foreign companies are establishing global R&D centers and factories, and exploring other new business opportunities
Over the first half of 2018, newly established foreign-invested enterprises in China increased by an impressive 96.6% from a year earlier, said the Ministry of Commerce, The Paper reported.
From building a new factory to establishing a global R&D center, foreign companies are exploring new business opportunities and adjusting investment directions in China. Several deals involving investment in China were signed in the last week.
BASF SE, the largest chemical producer in the world, has bonded with the Guangdong provincial government, planning to set up an integrated production base with a total investment of US$10 billion.
BMW Group also signed an agreement with Chinese automaker Brilliance Auto to build a new energy vehicle production base for the global market in China.
And the Shanghai Municipal Government and Tesla signed a memorandum of cooperation to secure Tesla’s first overseas super factory to be located in the city.