The Chinese stock market restarted the decline this week.Friends of stock trading laughed at the chat group. The only good news this week was "up to two more days, and the weekend will not fall."
When shareholders complained that bad news in the near future came one after another, it seemed to forget that on the weekend, the Chinese government just issued a document that boosted the economy: on further optimizing the foreign investment environment and increasing the efforts to attract foreign investment.
"Twenty -four Articles" consisting of 24 measures is another economic stimulus policy issued after "restoring and expanding consumption of consumption 20" and "promoting 28 articles".However, compared with the previous two policies, there are not many discussions caused by "24 foreign capital articles", and the role of market boost is also very limited.
From time to time, the timing of "24" was a bit embarrassing.One day before the policy was released, Country Garden, the first real estate company, announced that it had suspended trading of 11 domestic bonds in China, exacerbating the market's concerns about the risk of debt in housing enterprises.After that, the economic indicators released in July after this showed that the economic opening in the second half of the year was unfavorable; the official suspended announcement of the continued rising youth unemployment rate further harmed the confidence of investor.
A series of negative news that dilutes the "24" favorable effects, reflects the current challenges of the Chinese economy from different aspects: the property market that returns to the trough and may continue to worsenThe downturn expectations.These are all factor that makes investors worry.
Another concern of foreign companies is the cold effect caused by the revised version of the anti -spy method.
The new version of the anti -spy method that takes effect from July has expanded the spy behavior from national secrets and intelligence to "other documents, data, data, and items that are related to national security and interests, but no specific explanation is given.At the "24" blowout meeting, officials of the Chinese Ministry of Commerce were asked when foreign companies were worried about the anti -spy law law: "As long as companies operate in accordance with laws, they do not need to worry."
However, this year's Chinese law enforcement agencies have successively raided the consulting and consulting company Bain, and Misimi Wisdom of Due to the duty investigation company, such as the foreign company office, has made everyone in foreign companies in danger.More than 200 technical developers were transferred to mainland China to cope with the increasingly strict data supervision, making relevant companies more worrying about data security issues.
For this point, the "24" mentioned that it will explore the "convenient data cross -border flow security management mechanism" and establish a green channel for qualified foreign companies to promote the security and orderly flow of data.In addition, the documents have also proposed to ensure that foreign companies participate in government procurement activities in accordance with the law, implement relevant tax preferential policies, and optimize foreign entry and exit policies.
The Chinese EU Chamber of Commerce believes that the measures of 24 articles will greatly boost business confidence, but the premise is that they can "implement it in time, coordinate, and consistently."The Chamber of Commerce stated that it specially emphasized that the issuance of detailed policy implementation guidance was "critical".The voice outside is that the confidence of foreign companies will continue to be sluggish before the policy landing.
As the export turns weakened and the domestic demand recovery is weak, the importance of boosting foreign investment in the Chinese economy is self -evident.However, with the slowdown of geopolitical tensions, the momentum of economic recovery has slowed down, and foreign investors' confidence in the world's second largest economy has continued to weaken.
According to the survey of more than 900 members in March this year, as many as 55 % of the interviewed companies no longer regard China as the top three key investment locations.The data published by the State Administration of Foreign Exchange earlier this month showed that the increase in direct investment liabilities of foreign direct investment in China fell to US $ 4.9 billion (S $ 6.574 billion) in the second quarter, which is the minimum increase in the 25 -year indicator.U.S. President Bayeng signed an administrative order last week to restrict high -end technologies such as semiconductors, quantum computing and artificial intelligence in China and individuals in China, and further impacted foreign companies to invest in China.
Xinhua News Agency on Wednesday (August 16) published a comment titled to discredit the attractiveness of the Chinese market. It means that even if the United States has spared no effort to target, many developed countries have increased significantly in China in the first half of the year.The article also takes Buffett Buffett as an example, saying that Berkshire Hathaway, who he took charge, has obtained about 30 times the return on investment by investing in China Electric Vehicle BYD in 2008.
The article did not point out that data from the Ministry of Commerce of China showed that the amount of foreign direct foreign investment (FDI) in China in the first half of the year decreased by 2.7%year -on -year, the first decline in three years.Berkshire Hathaway has reduced BYD shares for 12 consecutive August to the present, and its share shares have dropped from nearly 20 % to less than 9 %.
The huge consumer group, the efficient and perfect supply chain, the potential of rapid growth ... This is the impression of foreign companies over the years over the Chinese market.However, after the three -year crown disease, the market consumption power is weakening, the industrial chain is gradually migrating, and economic development has also faced unprecedented pressure.With the intensification of Chinese and Western games, foreign companies may even become victims of geopolitical struggles, which has caused foreign companies to be more cautious in decision -making.
Although it has not aroused too much water, the importance of "24 articles attracting foreign capital" is comparable to the policies that expand consumption and promote the private economy.How attractiveness does the Chinese market today depends on how the official solve the knot of investors and protects the rights and interests of foreign companies in China -what they say than to say in the document, and what they will do next.
