China remains engine for global growth and attractive destination for investment: FM

China's stable economic growth and opening-up will continue to make the country an engine for global growth and promising destination for foreign investment. China welcomes foreign enterprises to continue to invest in the country, deepen their presence and be successful, Foreign Ministry spokesperson Wang Wenbin said on Friday.

The remarks came following the European Commission recently upgrading its forecast for China's 2024 economic growth to 4.8 percent, up by 0.2 percentage points compared with its previous projection.

In the first quarter of the year, the Chinese economy got off to a strong start, with GDP growth hitting 5.3 percent year-on-year. In April, the country's purchasing managers' index (PMI) for the domestic manufacturing sector was reported at 50.4. Last month, the country's foreign trade soared 8 percent to 3.64 trillion yuan, hitting a new high compared with corresponding historical period, official data showed.

The upward recovery momentum has made the international community positive on the Chinese economy and increase investment in China. Recently, international financial institutions including Goldman Sachs, Morgan Stanley and UBS have upgraded their forecasts for China's economic growth this year.

The Asian Development Bank data estimated China will account for 46 percent of growth in developing Asia in 2024-25.

Foreign investors' confidence in China is on the rise. The country improved its ranking as an attractive destination to invest over the next three years, jumping to the third place from the seventh in 2023, and continuing to lead emerging markets, according to a report recently released by consulting firm Kearney.

China seeks development amid continued opening-up, and welcomes the world to share China's opportunities, Wang said at a regular press conference. China's stable economic growth and continuous opening-up will make the country a global economic growth engine and a promising investment for companies from all countries, said the spokesperson.

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