At the first landmark event of "Invest in China" held recently, foreign businessmen attending the meeting stated that China is still a popular destination for global cross-border investment and will continue to invest in and deeply cultivate China. At the meeting, a new trend worthy of attention was that more and more foreign businessmen are turning their attention to China's central and western regions. The once open end is becoming a new choice for foreign investment.

Relevant data also verified the above changes. In terms of growth rate, in 2023, the actual utilization of foreign capital in seven central and western provinces, including Xinjiang, Qinghai, Gansu, Ningxia, and Shanxi, will all achieve double-digit growth rates. In terms of scale, Sichuan, as one of the representative provinces in the western region, has foreign direct investment of 24.52 billion yuan in 2023, and the total amount has exceeded that of many eastern coastal provinces.

On May 18, 2023, the 5th Western China International Investment and Trade Fair opened in Chongqing. Photo by Huang Wei (Xinhua Agency)

In fact, in the field of utilizing foreign investment, the central and western regions have led the country for many consecutive years. 这背后，有中西部地区利用外资总体规模小、基数低的原因，但更多的是与中西部地区自身优势紧密相关。近年来，全球产业链供应链加速重构，人口和市场规模、劳动力和土地成本优势、丰富的能源资源储备等，成为吸引跨国企业投资中西部地区的主要因素。在跨国企业的中国战略中，中西部地区正变得愈发重要。

In February this year, PricewaterhouseCoopers conducted a research report on investment in central and western China that 30% of the companies surveyed believed that the central and western regions contained huge opportunities, and 15% of the companies surveyed even believed that the central and western regions had extraordinary market opportunities. It is expected to build a new development pattern that breaks through existing market scenarios. In terms of investment plans, 17% of the companies surveyed plan to invest at least half of their investment in the central and western regions in the next one to three years, while as many as 52% of the companies surveyed plan to invest a small proportion in the central and western regions.

Looking at various factors, the market and policies are the two major factors that multinational companies are most concerned about when investing in the central and western regions. 长期以来，外商直接投资主要集中在中国东部沿海地区。随着区域协调发展战略的不断推进，中西部地区在人口、劳动力和市场规模等方面的比较优势逐步凸显，尤其是 Low cost and good foundation的核心优势，对外商投资呈现强磁场效应。

产业政策方面，在2022年版1774条鼓励外商投资目录中，有955条是“中西部地区外商投资优势产业目录”。目前，更大规模鼓励外商投资产业目录修订工作已经启动，主要聚焦在 Basic manufacturing, applicable technology, livelihood consumption等领域，中西部外商投资优势产业有望得到进一步支持。

While seeing development advantages, we must also note that the quality and efficiency of foreign investment utilization in the central and western regions still need to be improved. 当前，仅靠能源、人口等优势来吸引外资是远远不够的，要着眼于稳步推进制度型开放的要求，对标国际高标准经贸规则，持续深化重要领域和关键环节改革，积极破除影响外资准入的隐性壁垒和地方保护，以市场化、法治化、国际化的一流营商环境，让更多的外资愿意来、留得下，实现与中西部市场的共成长。

The use of foreign investment in the central and western regions must also coordinate and promote regional coordinated opening up. 东部地区要继续发挥开放引擎作用，用好高端要素集聚、创新资源密集、产业配套能力强等优势，提升产业链供应链现代化水平，推动东部地区产业结构高级化。中西部地区要积极承接东部地区产业转移，强化基础设施建设，提高生产要素保障服务能力，在技术、人才、资金、产业等方面与东部地区形成常态化对接和良性互动。

需要指出的是，中西部地区起步相对较晚，与沿海发达地区相比，最大的障碍仍在于思想观念。It is necessary to further reform and innovate and change concepts ，坚持用新发展理念统领经济社会发展，围绕高质量发展这一目标要求，求真务实、苦干实干，持续激发内在动能，推动中西部地区成为更具活力的投资热土。