Implications of China’s New Foreign Investment Law

Strengthening Long-range Vision

This is a testing period in the history of China’s economy, but the Chinese government is facing it thoughtfully, maturely and with much foresight. At a meeting in January, Chinese President Xi Jinping had alerted the nation that China faces major risks on many fronts. In spite of these risks, however, China is not deviating from its chosen path of reform and opening up, as clarified in the government work report delivered by Premier Li Keqiang to the 13th National People’s Congress, China’s national legislature, during the ongoing “two sessions” in Beijing. He has done well to reassure foreign businesses and investors that China “will strengthen efforts to protect foreign investors’ legitimate rights and interests.” While mentioning several concrete steps to stabilize and de-risk the economy, he also made clear that China is now consciously pursuing the goal of achieving greater qualitative growth, as opposed to merely quantitative growth. Thus, it has set its GDP growth target for this year at 6-6.5 percent, which reflects its determination to achieve higher-quality and sustainable development, in which people’s welfare, poverty eradication, employment creation and environmental protection take precedence over increase in abstract economic numbers. The raising of the fiscal deficit target to 2.8 percent of GDP from 2.6 percent in 2018 is aimed at releasing more funds for well-targeted growth. It should, […]

Tanzanian Ambassador Mbelwa Kairuki at the Two Sessions

The annual Lianghui, or the Two Sessions of the National People’s Congress (NPC) and the National Committee of the Chinese People’s Political Consultative Conference, is not only a political landmark in China, but also a window for international personages to learn about China. On March 5, Tanzanian Ambassador Mbelwa Kairuki was invited to the opening of the Second Session of 13th the NPC. He heard the Report on the Work of the Government delivered by Chinese Premier Li Keqiang.   On March 8, Mbelwa Kairuki sat down with ChinAfrica and shared his views on the Lianghui. For him, the key message was people-centered, addressing the issues of concern to the people.

Former Pakistan PM: China-Pakistan Relations Bring More Benefits to People on Both Sides

China and Pakistan established diplomatic relations in 1951. Through unrelenting efforts of people and leaders from both countries, the connection and friendship has been growing ever since, and an all-weather strategic partnership has also been established. “China-Pakistan relationship is a good example of State-to-State relationships,” President Xi Jinping said in 2014. Imran Khan, Prime Minister of Pakistan, paid an official visit to China in November 2018. Prime Minister Imran Khan appreciated the Belt and Road Initiative proposed by President Xi. As one of the symbolic Belt and Road projects, China-Pakistan Economic Corridor has improved the investment and business environment in Pakistan, creating a new space for its economic development. Gwadar Port, which is now considered as the pearl of China-Pakistan Economic Corridor, was once a small fishing village along the Arabian Sea. Shaukat Aziz, former Prime Minister of Pakistan, told China Focus that construction of harbor and ports has brought more employment opportunities to the district, and boosted its economic development. Today, Gwadar Port has a new look. Responding to the “debt trap” argument concocted by western media to defame the Belt and Road initiative, Aziz emphasized that trade exchanges and interconnections are not coercible. The outcome of establishing better trade, commercial and diplomatic relations through joint efforts is sure to be mutually beneficial. China Focus: Why Is Connectivity Important? […]

A Letter From Grandson to Granddad About Life in China

Dear granddad, I hope you’ve been well. It’s hard for me to believe that the last time I saw you was three years ago. I miss you! Time seems to fly by so fast. I’ve been living in China for a few years now and I’m enjoying it. I used to be worried that China would be a bit backward and that I’d have a hard time adjusting here, but that really hasn’t been the case. Beijing is one of the most modern cities I’ve been to. The economic growth in China is not as crazy as it used to be, but it’s still pretty impressive. Everything is going fine here, and, despite a few cultural differences, I’ve found the people to be friendly. Chinese people seem pretty satisfied with their lives. A friend of mine told me that due to a tax law reform last year he’s getting a good amount more money each month. Quite a few of my Chinese friends travel all around the world whenever they get the chance. You won’t believe how easy it is to get access to the internet here. There’s WIFI all over the place – in the cafes and restaurants, even in shopping malls and on buses. I often speak to mom and dad via video calls. Last month I went […]