Foreign firms gear up for annual import expo

Eager to reinforce its position in global industrial and supply chains and eventually inject more stability into the global economy, China released its 2022 catalog of industries to encourage foreign investment in late October, a move widely seen as part of intensified efforts to attract more foreign investment and expand high-standard opening-up.

To take effect on Jan 1, the catalogue has 1,474 items, among which 239 are new and 167 are modified from that in the previous catalog released in 2020, said the National Development and Reform Commission.

In the area of trade in services, Xie An, sustainability and climate leader at Deloitte China, said the company will debut its China carbon footprint database at the CIIE.The figures are based on the company's national input and output economic data as well as energy consumption data, to help companies better conduct supply chain emissions reductions and carbon footprint calculations.

Xu Mingqi, a researcher with the Shanghai Academy of Social Sciences, said these facts show that the majority of global companies' decisions for investment and product debuts are based on market conditions and growth potential, and they are acutely aware that no single economy — or only a few countries — can independently provide all the resources and ideas of innovation for producers, or offer all the needed goods and services to consumers.