Page 121 - Theoretical and Practical Interpretation of Investment Attractiveness

At the same time, customs concessions were also provided for import resources needed by
export-oriented production enterprises.
Another important factor that influenced China's rapid development is the fact that it
has developed a database (passport) that is necessary for investors, showing the opportunities
and potential of the regions, and it is determined by the availability of cheap labor. The
opening of this database as an Internet resource has ensured the flow of foreign investment
and increased business cooperation for Chinese enterprises. Today, the factor that has served
to ensure China's position in the world economy and the rapid growth of the economy is
precisely its openness, healthy image and investment attractiveness.
However, according to today's experts, the country's citizens and the foreign public
perceive China's openness and rapid integration into the world community as a negative
situation. It would be correct to say that all these are conclusions about modern China without
understanding the processes taking place there. After all, the Chinese leadership is
consciously paying special attention to the following aspects:
establishing China's strong connection with the outside world;
to ensure the solidarity and reliable partnership of the state with entrepreneurs;
creating the image of China as a reliable partner in the imagination of the world
community;
to ensure the construction of development on an innovative basis, not development
with high production productivity, etc.
Taking into account these aspects, since 2004, the Chinese state began to actively deal
with the problem of further increasing the country's investment attractiveness. In the last
decade, China has taken many systematic measures to raise its influence and reputation before
the world community. He has been developing Sino-Arab, Sino-African cooperation in
economic cooperation with several international and regional organizations: OSCE - Asia-
Pacific Cooperation Organization, SCO - Shanghai Cooperation Organization, as well as in
the establishment of free economic zones.
With the accession to the World Trade Organization (WTO), China has implemented
fundamental reforms in many areas. In particular, in the following important areas: reduction
of various tariffs; it is possible to cite measures related to the removal of obstacles and
restrictions on investments directed to the leading sectors of the economy, especially services:
telecommunications, insurance, banking, trade, logistics. Thanks to these created
opportunities and conditions, the activity of not only multinational companies, but also small
and medium-sized foreign companies related to investment in the Chinese state has increased.
Due to this, the increase in the volume of foreign direct investment imported into China
grew year by year. As a result of WTO membership, geographical and operational restrictions
for foreign banking institutions were removed from 2006. As a result, branch institutions of
foreign banks were established and procedures related to transactions in yuan were
established by them for residents in any part of China.
The Bank of England - Standard Chartered Bank was the first to use the provided
opportunities and benefits, as well as a number of other banks: Citigroup (USA), HSBC

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