Safer, Better Business in China

GENEVA - The United Nations Conference on Trade and Development on Tuesday said global foreign direct investment dropped by nearly half in the first six months of the year, with the biggest declines in Europe and the United States, warning of a highly uncertain outlook depending on the duration of the pandemic and the effectiveness of policy interventions.

China is taking more steps to promote the development of private enterprises in a bid to further stimulate their vitality and creativity and spur growth despite rising global uncertainties, officials and experts said on Monday.

Innovative designs, brand expansion and online promotions have helped Foshan Shunde Deerma Electric Appliances Co Ltd, a manufacturer of small home appliances, increase its sales during the past few months of this year.

China will further ease outbound investment limits and allow more domestic institutional investors to purchase financial assets in the global market as part of its financial market reform and opening-up, according to an official announcement.

Ma Yun, also known as Jack Ma, crowns the list of the richest people in China with $58.8 billion, according to the Hurun Research Institute.

E-commerce giant Alibaba Group Holding Co's ambitious plan to spur online shopping via Singles Day will help boost consumer spending in the country, experts said.

Chinese companies' digitalization expertise and the strong resilience shown by the nation since the COVID-19 epidemic have given multinational companies the confidence to be more deeply rooted in the country, top global executives said during a meeting of the International Business Leaders' Advisory Council in Shanghai.

Chinese artificial intelligence unicorn Megvii announced on Thursday its latest strategy of tapping the smart logistics segment, as the company seeks to explore wider applications of AI technology.

Competition in China's high-end smartphone market is set to intensify with the arrival of the 5G-enabled iPhone 12 from Apple Inc, as domestic companies may unveil more feature-packed models to attract consumers, experts said.

China's foreign trade will maintain stable growth in the fourth quarter as its manufacturing sector is capable of scaling up production within a short period to supply necessary goods amid the global pandemic, officials and analysts said on Tuesday.