China has recently announced plans to welcome more foreign investment as part of its efforts to deepen economic reforms. Our reporter Cao Chufeng traveled to northwestern Shaanxi Province to gauge the reactions of international businesses. 

Ren Hongbin, Chairman of the China Council for the Promotion of International Trade, or CCPIT, visited a Micron factory in Xi'an this week.

As a world leading chip maker from the U.S., Micron has been in China for over two decades. It's announced it would increase investment in the country, a message welcomed by Chinese governments at different levels. In 2023, it announced an additional investment of 4.3 billion yuan, more than half-a-billion U.S. dollars, in Xi'an.

BETTY WU, China Country Manager, Micron "Micron has operations spanning Beijing, Shanghai, Shenzhen, and Xi'an. We've invested 11-billion yuan in Shaanxi. This highlights Micron's continued commitment to our customers and team members in China."

Foreign companies and business associations also gathered at a Government to Business dialog event in Xi'an on Tuesday. With the third plenary session of the 20th Central Committee of the Communist Party of China not long concluded, some attendees said they welcome Chinese plans to deepen reform and further open-up its economy.

LU HAIQING, Global Vice President, IHG Hotels & Resorts "After the Third Plenary Session, China has officially entered a critical phase. We are very confident there will be more opening-up measures in the future. Our company has been in China for 50 years and has no plans to leave."

Others explained the importance of the Chinese market for the growth and success of their companies.

CHRISTINE YUE, Shanghai Office General Manager, Cranswick Country Foods "We are one of the largest meat producers in the UK. Ingredients that are not often cooked in the UK are sometimes very popular in China, which makes the Chinese market very important for us."

JAKE LI, Vice President, Alba Group Asia Ltd. "China is very important to us. We've invested in seventeen factories across Asia, with eleven of them located in China."

A group tour covered many places in Xi'an that focus on innovation and the promotion of trade. It's hoped this could inspire foreign companies to increase investment.

CHLOE SONG, General Manager, Benelux Chamber of Commerce in China "The industrial support system and infrastructure for logistics is so good here. We'll convey this to our members and encourage them to come and see for themselves."

The CCPIT says the enthusiasm for doing business with China is clear, and expands well beyond this week's events.

LIU ZHENGFU, General Director, Department of Development Research, China Council for the Promotion of International Trade "The Chairman of the CCPIT, Ren Hongbin, recently led a delegation of Chinese business representatives to the US. And we had deep discussions with many US multinational corporations. Many of them said they wish to increase their investments in China."

CAO CHUFENG, Xi'an "Xi'an, which was the starting point of the ancient Silk Road, still remains attractive for foreign enterprises. And their interests go beyond just this region. Despite up and downs, many big international businesses still want to have a deep connection with China and its market. Cao Chufeng, CGTN, Xi'an."

(Source: CGTN)