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China ramps up efforts to attract, utilize foreign investment

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By Luo Shanshan, Wang Yongzhan, People’s Daily

Foreign-funded companies have remained upbeat about the development prospects in China, continuously expanding their presence in the country since the beginning of this year.

Recently, a set of new-generation digital power quality equipment rolled off the production line at a factory of Schneider Electric in Xiamen, southeast China’s Fujian province. A new flexible production line also started operation at the factory.

China has become Schneider Electric’s second-largest market in the world, as well as an important supply chain base and one of the four major research and development (R&D) bases of the company.

In Chengdu, southwest China’s Sichuan province, European aircraft manufacturer Airbus has been orderly promoting its first aircraft lifecycle service project outside Europe.

In 2023, an important task for China is to make greater efforts to attract and utilize foreign investment. By properly shortening the negative list for foreign investment access, continuing to build a first-class business environment, providing better services for foreign-funded enterprises and facilitating business cooperation and exchanges, China has constantly promoted high-level opening up and improved the quality and level of trade and investment cooperation.

On the first day of 2023, the 2022 edition of the Catalogue of Encouraged Industries for Foreign Investment went into effect. This version contains 1,474 items, with 239 newly-added items and 167 revised ones compared with the 2020 version.

Foreign companies investing in the included industries can enjoy favorable policies such as tax reduction and exemption, as well as priority in land supply.

More encouraged industries for foreign investment and a less negative list for its access have indicated China’s ongoing efforts to attract foreign investment.

In recent years, China has continuously lowered the threshold for foreign investment. Items on the negative lists nationwide and for pilot free trade zones (FTZs) have been cut to 31 and 27, respectively. Opening up has been basically achieved in the manufacturing sector and steadily promoted in the agricultural and service industries.

Nowadays, the service industry has become a major sector that attracts foreign investment to China.

The State Council recently released a circular, approving the launch of a pilot project to expand opening up the service sector in six cities, including Shenyang, Nanjing, Hangzhou, Wuhan, Guangzhou and Chengdu.

The pilot project had previously been carried out in five places including Beijing, Tianjin, Shanghai, Hainan and Chongqing. Nearly 70 innovative policies have been rolled out in Beijing in areas including R&D of the sci-tech sector and financial services for the real economy, and 151 differentiated pilot measures have been launched in four places including Tianjin, accelerating the opening up of the service sector.

Thanks to the pilot project launched in Chongqing and other projects such as the Chongqing and the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity, ICHAM Pte. Ltd., a Singaporean company, obtained a license for conducting Qualified Domestic Limited Partner (QDLP) business in Chongqing and set up a wholly-owned subsidiary in the city.

“By obtaining the license, we can carry out financing activities in China and invest in Singapore and other overseas markets. In 2023, we’ll actively conduct business and build a two-way cross-border channel for financing and investment between China and the international market,” said Chen Peiliang, president of the subsidiary.

The annual Central Economic Work Conference recently proposed to grant foreign-funded enterprises national treatment, guarantee equal participation of foreign-funded enterprises in government procurement, bidding, and standard setting in accordance with the law, and increase the protection of intellectual property rights and the legitimate rights and interests of foreign investors.

The foreign investment law, which came into effect on Jan. 1, 2020, is China’s fundamental law in the area of foreign investment. It sets out unified requirements for the access, promotion, protection and management of foreign investment.

Long Guoqiang, deputy head of the Development Research Center of the State Council, pointed out that China has abolished laws, regulations and normative documents that ran counter to the foreign investment law for three consecutive years, and has carried out the formulation, revision and abolition of over 500 documents. This effort will be continued in the future, Long said.

“We officially kicked off the project only more than 6 months after signing the letter of intent. The Chinese government significantly improved the efficiency of services,” said Hu Yongdong, an executive from Airbus, mentioning the complex aircraft lifecycle service project that involves multiple business sectors.

Hu expressed that to push forward the project, departments from Sichuan province and Chengdu city were proactively engaged in matchmaking, actively enhanced coordination, and innovated cooperation models, greatly relieving financial pressure on the company in advancing the project.

An official from China’s Ministry of Commerce expressed that the country will continue to enhance investment facilitation and ramp up support for foreign investors, solve problems in the operation and construction of projects, and provide greater convenience for foreign investors in carrying out trade and investment activities in China.

The energetic Chinese economy has delivered enormous opportunities for foreign-funded companies, said Yin Zheng, executive vice president of Schneider Electric.

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EID-EL-KABIR: BELLO BABAYO BELLO COMMENDS TINUBU, SHETTIMA, GOMBE GOVERNOR AS HE FELICITATES WITH MUSLIMS NATIONWIDE

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The Executive Director, Networks, Niger Delta Power Holding Company Limited (NDPHC), Engr. Bello Babayo Bello, FNSE, has extended warm felicitations to Muslim faithful across Nigeria, particularly the people of Gombe State, on the occasion of the 2026 Eid-el-Kabir celebration, urging citizens to continue promoting peace, unity, love, and national development.
In a goodwill message released to journalists on the occasion of the Islamic festival, Engr. Bello described Eid-el-Kabir as a sacred celebration that reflects the virtues of sacrifice, obedience, faith, compassion, and gratitude to Almighty Allah as demonstrated by Prophet Ibrahim (AS).
He called on Muslims to use the spiritual significance of the season to strengthen the bonds of brotherhood, support one another, and continue praying for the peace, stability, and prosperity of Nigeria.
Engr. Bello also commended the leadership of President Bola Ahmed Tinubu, GCFR, for his commitment to national development, economic reforms, infrastructural advancement, and efforts aimed at strengthening unity and progress across the country.
According to him, the administration of President Tinubu has continued to demonstrate determination in laying foundations for long-term growth and national transformation through bold policies and strategic governance initiatives.
The NDPHC Executive Director equally praised Vice President Kashim Shettima, GCON, for his loyalty, dedication, and support toward the actualization of the Renewed Hope Agenda of the Federal Government.
He noted that the Vice President has continued to play a vital role in promoting stability, inclusion, and effective coordination within government.
Engr. Bello further applauded the Governor of Gombe State, Muhammadu Inuwa Yahaya, CON, for what he described as purposeful leadership and remarkable strides in infrastructural development, healthcare, education, youth empowerment, and peaceful coexistence in the state.
He said the governor’s developmental policies and inclusive style of governance have continued to attract admiration and confidence from the people of Gombe State and beyond.
“Eid-el-Kabir remains a season of reflection, gratitude, sacrifice, and devotion to Almighty Allah. It is also a period that reminds us of the importance of unity, compassion, tolerance, and service to humanity. As we celebrate, we must continue to pray for our leaders and for the continued peace, progress, and prosperity of our dear nation,” he stated.
Engr. Bello urged Muslim faithful to extend love and kindness to the less privileged, widows, orphans, and vulnerable members of society during the Sallah festivities, stressing that charity and generosity are central teachings of Islam.
He also commended the people of Gombe State for sustaining the culture of peaceful coexistence, harmony, and mutual respect among diverse communities.
The engineering professional and public administrator expressed optimism that Nigeria would continue to witness greater development, unity, and economic advancement under the leadership of President Tinubu.
He prayed for Allah’s continued guidance, wisdom, protection, and blessings upon the President, Vice President, Governor Inuwa Yahaya, and all leaders across the country.
Engr. Bello finally wished Muslim faithful in Gombe State and across Nigeria a peaceful, joyous, and spiritually fulfilling Eid-el-Kabir celebration.

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Dogara Celebrates Eid El-Adha, Urges Nigerians to Embrace Unity, Sacrifice, and Compassion

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Rt. Hon. Yakubu Dogara, former Speaker of the House of Representatives and Chairman of the Board of National Credit Guarantee Company Limited (NCGC), has extended heartfelt felicitations to Muslims across Nigeria and around the world on the occasion of Eid El-Adha.

In his Eid message, Dogara described the festival as one of the most profound moments in the Islamic faith — a sacred season that embodies the enduring virtues of sacrifice, obedience, faith, and total devotion to God, as demonstrated by Prophet Ibrahim (AS). He noted that beyond its spiritual significance, Eid El-Adha serves as a powerful reminder of the values of compassion, generosity, and love for humanity.

According to him, the celebration offers an opportunity for reflection and renewal, urging Nigerians to recommit themselves to the ideals of unity, peace, and mutual understanding. He observed that the true essence of Eid lies not merely in celebration, but in the willingness to serve others selflessly and uplift the less privileged.

“Eid El-Adha reminds us that greatness is found in sacrifice, service, and compassion for one another. It is a season that calls us to strengthen the bonds of brotherhood, extend kindness to those in need, and renew hope for a better and more united nation,” Dogara stated.

The former Speaker stressed that the lessons of Eid should transcend religious and ethnic boundaries, especially at a time when Nigeria needs collective commitment to peace, justice, and national cohesion. He called on citizens to rise above division and work together in the spirit of patriotism and shared destiny.

“As we celebrate this sacred festival, may the spirit of sacrifice inspire us to build bridges of understanding, promote harmony across our communities, and work collectively for a more peaceful, just, and prosperous Nigeria,” he added.

Dogara further prayed that the blessings of Eid El-Adha would bring joy to families, healing to communities, and progress to the nation. He encouraged the faithful to use the occasion as a time for spiritual renewal, deeper devotion to God, stronger family ties, and renewed commitment to the common good.

“As families gather in prayer and celebration, may this Eid remind us of our shared humanity and our collective responsibility to serve with humility, love, and sincerity. May the Almighty accept our prayers and sacrifices, bless our homes with peace and happiness, and guide our nation toward greater unity and prosperity,” he concluded.

Dogara wished all Muslim faithful a peaceful and joyous Eid El-Adha celebration filled with divine blessings, love, hope, and renewed faith in the future of Nigeria.

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Ukhomunyio Community Seeks Edo Government Intervention Over Insecurity

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A group of concerned stakeholders in Ukhomunyio Community, Okpella, Edo State, has called on the Edo State Government and security agencies to strengthen security presence in the area following recent security concerns and incidents of violence.
In a statement jointly signed by community stakeholders, the group said that the once-peaceful Ukhomunyio Community had in recent weeks experienced growing tension and insecurity.
The statement was jointly signed by Sam S. O. Afemikhe, Roland Ediawe, Dr Henry Idogun, Kasimu Sunday, Mark Adogah, Friday Ododeh, Omoreige Usman, Dr Victor Balogun, and Prince Haruna Ahmed.
The stakeholders urged the government to deploy more security personnel to the community and surrounding areas to help maintain peace and prevent further breakdown of law and order.
“We therefore call on the Edo State Government, security agencies, and all relevant authorities to immediately intervene by strengthening security presence within Ukhomunyio Community and surrounding areas,” the statement said.
They also called for a thorough investigation into recent incidents of violence and disturbances linked to the annual Olimi Festival.
According to the statement, the community recently recorded tragic incidents involving residents of Kalaba and Imioko villages, while some persons were reportedly abducted during the attacks and later reunited with their families.
The group described the incidents as unfortunate and contrary to the community’s peaceful traditions.
“We strongly condemn these acts, which are completely alien to the long-standing peaceful tradition of our community,” the statement added.
The stakeholders further expressed concern over violence that erupted during the recent Olimi Festival, saying some individuals allegedly used firearms during the celebration.
They said the violence resulted in casualties and injuries, with some affected persons currently receiving medical treatment.
“The Olimi Festival has historically been a symbol of unity, peace, celebration, and cultural heritage among the people of Ukhomunyio and Okpella in general,” the group stated.
According to the statement, the festival had historically symbolised unity, peace, and cultural heritage among the people of Ukhomunyio and the wider Okpella community.
The group also appealed to authorities to ensure that all investigations and security operations are carried out lawfully and fairly to avoid escalating tensions within the community.
Beyond strengthening security, the stakeholders called on authorities to prevent further violence and restore peace and confidence within the community.
They warned that continued insecurity could affect economic and social activities in the area, including operations linked to major industries.
As part of efforts to support investigations, the group announced a N1 million reward for credible information that could assist security agencies in identifying those behind the recent incidents.
Another N1 million reward was offered for information that could help authorities identify individuals connected to the violence during the Olimi Festival.

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