STORY: China's high-standard opening-up boosts foreign investment, global prosperity
SHOOTING DATE: Earlier footage
DATELINE: Jan. 8, 2024
LENGTH: 00:02:36
LOCATION: Beijing
CATEGORY: ECONOMY

SHOTLIST:
1. various of China and trade
2. SOUNDBITE 1 (English): ANDREAS GLUNZ, Legal representative of BMW (China) Insurance Brokers Co., Ltd.
3. SOUNDBITE 2 (English): PETER LEGNER, CEO of HOMAG China
4. SOUNDBITE 3 (English): HORST LOECHEL, Professor of economics at the Frankfurt School of Finance and Management
5. SOUNDBITE 4 (English): ASAD ALI SHAH, Deputy chief of Economic Research and International Cooperation Section, Pakistan's Ministry of Planning, Development and Special Initiatives

STORYLINE:

Despite the rising tide of deglobalization and protectionism, China has remained committed to advancing high-quality development and high-standard opening-up.

The country has worked to expand institutional opening-up, reduce restrictions on foreign investment, and improve the business environment, providing promising prospects for foreign investors.

SOUNDBITE 1 (English): ANDREAS GLUNZ, Legal representative of BMW (China) Insurance Brokers Co., Ltd.
"I believe with the opening-up, and providing a transparent and fair business environment, this will also in the future attract again foreign investors to invest their capital here in the Chinese market. I think for foreign-invested companies, we have to have a very, very close look on China's rapid development and all the innovation, very, very fast innovation, what is going on here. Of course, we have to catch up with that."

SOUNDBITE 2 (English): PETER LEGNER, CEO of HOMAG China
"China is big enough. We are very optimistic that the market will rebound strongly in the next couple of years. We are investing quite a lot in R&D, in our talents, and so on."

In the first 10 months of 2023, the number of newly-established foreign-invested enterprises in China increased by 32.1 percent year on year.

Experts believe that China, through wider opening-up, would not only push forward its high-quality development, but also create broad opportunities for the world.

SOUNDBITE 3 (English): HORST LOECHEL, Professor of economics at the Frankfurt School of Finance and Management
"I think the opening-up of China and the huge success of Chinese development, let's say the amazing success in the last 45 years or so, was also great for foreign companies. They made a very good business and made a lot of revenues. So this was a great opportunity for the world economy but also for European companies. Now for foreign companies, China as a sales market with a huge, well-funded middle class, who can spend money, has become more and more important."

SOUNDBITE 4 (English): ASAD ALI SHAH, Deputy chief of Economic Research and International Cooperation Section, Pakistan's Ministry of Planning, Development and Special Initiatives
"China has opening-up policy. China is integrated with the rest of the world, China is signing more FTAs with different countries. So under this reform process, or under these initiatives, we can expect that China will make good progress. And Chinese investment decisions and Chinese cooperation with other countries play an important role and can give momentum to the economic activity of the rest of the world."

Xinhua News Agency correspondents reporting from Beijing.
(XHTV)