Foreign firms plans 8% increase in reinvestment budgets, study shows

When asked about the influence of the Bilateral Investment Treaty between China and the United States on investment budgets, nearly 30 percent of the participants expected their investment budgets to increase, with 8 percent increasing their budgets by $250 million or more, which indicates that they see the BIT as an opportunity for their business development.

Andy Rusie, finance vice-president in China for Mead Johnson Nutrition & Co LLC, said Chinese economic development will continue to provide myriad business opportunities for foreign companies in the following months.

"China's gross domestic product still grows at about 7 percent," he said.

Meanwhile the Chinese government has introduced a package of policies to stimulate its economic growth, he added.

And Richard Ren, vice-president of corporate affairs at Vitasoy (China) Investments Co Ltd, said he has confidence in the Chinese market in the years to come.

"Vitasoy has enjoyed annual double-digit growth in the mainland in the past decade," Ren said.

Guangdong, one of the country's economic powerhouses, set its growth target during the 13th Five-Year Plan at 7 percent, maintaining medium-to-high speed development, according to Guangdong Governor Zhu Xiaodan.

In his report to the provincial legislature earlier this year, Zhu urged relevant departments and cities in the province to do what they could to improve their levels of foreign investment.

The province saw its GDP grow by an average of 8.5 percent annual during the 12th Five-Year Plan which ended last year.