►►Since their establishment over 40 years ago, China’s national economic development zones have made opening up a top priority, and have been at the « first echelon » in promoting foreign trade and attracting foreign investment, said Ji Xiaofeng, an official with the Ministry of Commerce.
BEIJING-Over the four decades, these zones have made continuous efforts in self-improvement and have been committed to creating a high-quality, law-based business environment, Ji said on the latest episode of the China Economic Roundtable, the all-media talk show hosted by Xinhua News Agency.
By the end of 2024, China had established 232 national economic development zones, which together host more than 60,000 foreign-invested companies.
Among these, Japanese electronics giant Panasonic was one of the earliest foreign investors in the Chinese market. Today, it has three subsidiaries in Suzhou Industrial Park, located in east China’s Jiangsu Province.
According to an annual ranking released by the commerce ministry, Suzhou Industrial Park ranked first among all national economic development zones in China in terms of development level at the end of 2024, maintaining its leading position for the ninth consecutive year.
« The industrial park’s location, industrial chain, and policy support make it very attractive to us and have greatly benefited our investment and development not only in Suzhou, but across China as a whole, » said Zhao Bingdi, president of Panasonic China.
By offering highly professional services, such as facilitating government-business exchanges, the industrial park is dedicated to helping companies improve operational efficiency and stay informed about the latest policy measures, Zhao said.
In May, the commerce ministry unveiled a work plan to further deepen reform and innovation in national economic development zones, marking one of China’s latest moves to strengthen the role of these zones in promoting high-level opening up.
« We have been a witness to and a beneficiary of China’s reform and opening up. As the country shifts toward high-quality development, we remain committed to our ongoing growth here, » Zhao said.
By Xinhua
