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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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Hon. Jafaaru Yakubu Demands Urgent Action on Taraba Road Collapse

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Hon. Jafaaru Yakubu, Chairman of the House Committee on Nigeria-China Friendship, has issued a strong call for immediate government intervention following the collapse of the Bali-Suntai Road in Taraba State. His appeal comes two years after the Namnai Bridge in Gassol Local Government Area collapsed, a tragedy that remains unresolved and continues to haunt residents. Yakubu stressed that the latest disaster is not just an infrastructure failure but a humanitarian crisis that threatens livelihoods, education, and commerce across the region.The Bali-Suntai Road, particularly around the Zagah axis in Bali LGA, was washed away after heavy rains, leaving more than 300 vehicles stranded. Among them were heavy-duty trucks loaded with goods, buses carrying passengers, and smaller vehicles attempting to navigate the route. The collapse has paralyzed transport services, cutting off communities and disrupting trade. For traders, the losses are mounting daily as perishable goods rot in transit, while transport operators face financial ruin from halted operations. Ordinary citizens, meanwhile, are left stranded, unable to access markets, schools, or health facilities.In reinforcing Yakubu’s appeal, Alh. Abdulhamid Kungana, Director General of Campaign for Hon. Jafaaru Yakubu’s 2027 House of Representatives bid, underscored the urgency of the crisis, describing it as a ticking time bomb for Taraba’s economy and social fabric. He noted that the collapse has left communities isolated and vulnerable, with economic activities grinding to a halt. His intervention added political weight to Yakubu’s voice, framing the issue not only as a matter of infrastructure but as a test of governance and leadership. By aligning with Yakubu’s call, Kungana’s campaign leadership amplified the demand for swift and decisive action, signaling that the plight of Taraba’s people must be treated as a national priority.Yakubu emphasized that infrastructure is the backbone of economic and social life, and without functioning roads and bridges, communities are isolated, commerce grinds to a halt, and education suffers. His call is not just a political statement but a demand for urgent action that directly affects thousands of Nigerians. Residents have pleaded for swift repairs, warning that the situation will worsen as the rainy season continues. Traders fear that the collapse will lead to skyrocketing prices of goods and services, as supply chains remain disrupted. The prolonged neglect of the Namnai Bridge and now the Bali-Suntai Road highlights the urgent need for sustainable road maintenance policies in Taraba State.The combined voices of Yakubu and Kungana have transformed the crisis into a rallying point for accountability. Their united stance reflects a broader demand for government responsiveness, reminding leaders that infrastructure failures are not abstract statistics but lived realities for communities. The collapse of two critical transport routes within two years has left Taraba’s people in despair, and unless urgent steps are taken, the crisis will deepen, leaving the state further isolated and economically strangled.

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HONOURABLE JAFAARU YAKUBU COMMISERATES WITH QATAR OVER THE DEATH OF RULER

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Honourable Jafaaru Yakubu, Chairman of the House Committee on Nigeria–China Friendship Relationship Group, has extended his condolences to the Government and people of Qatar following the passing of the father of the incumbent Emir, His Royal Highness Sheikh Tamim ibn Hamad Al Thani.In his condolence message, Honourable Yakubu described the late ruler as a man of wisdom and compassion whose leadership left a lasting imprint on Qatar and the wider global community. He noted that the deceased patriarch of the Al Thani Royal Family was widely respected for his dedication to service, his vision for progress, and his commitment to uplifting humanity.Yakubu emphasized that Qatar has not only been a leader in the Gulf region but has also shown remarkable generosity through humanitarian partnerships that extend far beyond its borders. He highlighted the role of Qatar Charity in his Federal Constituency of Bali/Gassol in Taraba State, where sustained interventions have supported orphans, widows, and vulnerable groups. These programs, he said, have provided scholarships, empowerment opportunities, and social support that have transformed lives and strengthened communities.“The people of Bali/Gassol Federal Constituency will always remember the kindness of Qatar and the impact of its humanitarian activities in our communities,” Honourable Yakubu remarked. He added that the partnership with Qatar Charity has been a source of hope and opportunity, reinforcing the bonds of friendship between Nigeria and Qatar.He prayed for Allah (SWT) to forgive the shortcomings of the departed leader and grant him Jannatul Firdausi, while assuring the Government of Qatar of his constituency’s solidarity during this period of mourning.The condolence message, delivered in Abuja, underscores the enduring ties between Nigeria and Qatar, and reflects the shared vision of both nations in advancing humanitarian causes and uplifting vulnerable populations. Honourable Yakubu reaffirmed his commitment to strengthening these ties, ensuring that the partnership continues to grow and deliver meaningful benefits to his people.

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‘Ombugadu Is a Brand, Not a Title’ — PDP Chieftain

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By Emmanuel Kuza

A chieftain of the Peoples Democratic Party (PDP) in Nasarawa State, Abuga Ovie, has described the name Ombugadu as a political brand, saying the popularity and wide acceptance of the name have made David Emmanuel Ombugadu a major force in the state’s political landscape.

Ovie, who stated this in an interview on Tuesday, said what started as opposition from some of Ombugadu’s biological brothers and people he described as fathers and uncles who betrayed him for personal political interests had now assumed a wider dimension, with political parties allegedly joining the battle against him.

According to him, the latest development was an attempt to undermine the political value of the Ombugadu name by presenting another person with the same surname, describing it as an indication of how far some political actors were prepared to go to weaken the PDP governorship candidate.

“Ombugadu is a brand, not a title. The people are not fools. They know their own. You cannot simply bring another person bearing the same name and expect the people to forget the political identity that Ombugadu has built over the years,” he said.

He further alleged that a former governor was working to introduce a political associate who had served as Accountant-General of Nasarawa State into the political equation, with the alleged objective of destabilising the PDP and weakening its chances by ensuring that the party fields a less competitive candidate in 2027.

“The plan, as we understand it, is to destabilise the PDP and make sure the party presents a weak candidate, thereby creating an advantage for the former governor’s preferred candidate. But all those efforts have proved abortive because the national leadership of the PDP stood its ground and refused to lose its best bet for the 2027 governorship election,” Ovie said.

The PDP chieftain said the resolve of the national leadership to retain Ombugadu had demonstrated the confidence the party had in his capacity to win the governorship election, despite what he described as attempts by some political actors to frustrate his ambition.

Ovie urged political parties and their leaders to resolve their internal differences instead of concentrating their efforts on Ombugadu, whom he compared to David in the Bible, saying he remained focused despite betrayal and opposition from those close to him.

“Ombugadu is like David in the Bible. Even when his brothers forsook him, he remained focused. Today, despite the people who have betrayed him, he remains focused and has a blueprint that can rescue Nasarawa State,” he said.

He said political parties should concentrate on presenting their programmes and convincing voters about how they intend to address the challenges confronting the state rather than expending their energy on attempts to stop Ombugadu.

“Political parties should fix their problems instead of wasting their strength fighting Ombugadu. Let everybody bring their blueprint before the people and explain what they intend to do for Nasarawa State,” he said.

Ovie maintained that the 2027 election should be about ideas, competence and the future of Nasarawa State, rather than attempts to manipulate political structures or undermine individuals perceived to enjoy strong grassroots support.

He urged the people of the state, particularly the Eggon community, to remain politically vigilant and resist what he described as efforts to make them settle for less, insisting that voters would ultimately determine who enjoys their confidence at the polls.
Reduce repeated references to Ombugadu

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