Beijing has pledged to be more open to foreign investment, but some officials have become more selective about the projects they want, as the South China Morning Post reported. This shift in approach is beginning to emerge as China formulates its 15th Five-Year Plan, the document that sets out the country’s development path.
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Sun Xiuguang, president of the French-Chinese Startup Incubator Organization, witnessed this change firsthand during a recent meeting with local officials in the Yangtze River Delta. He was surprised by the stringent requirements for local personnel, as they openly declared their desire to attract projects in specific strategic sectors, including pharmaceuticals, healthcare and artificial intelligence.
“The message was clear: They want high-quality foreign investment that can help complement and develop their domestic supply chain,” Son said, recalling the talks. “The mentality is shifting from quantity to quality.”
Source: Market intelligence platform IndexBox
