Although confronting severe domestic economic downturn and fierce international investment promotion competition, China still has comprehensive advantages and a bright future, said Wang Shouwen, minister assistant of the Ministry of Commerce (MoC), on May 5.

At the national foreign investment work conference, Wang said, China’s advantages in attracting foreign investment includes steadily growing domestic market, increasingly strengthened industrial supportive capability, advantageous competitiveness in comprehensive elements, and in-depth participation of global and regional economic cooperation.

China has made steadily quantity progress and further quality improvement in attracting foreign investment, Wang added. In 2015, the foreign investment absorption will focus on seven aspects, first, stabilizing scale, adjusting structure and improving quality; second, continuously expanding the breadth and depth of opening-up; third, improving the work concept and method on investment promotion; fourth, actively boosting the integration of three laws into one to develop the Law on Foreign Investment; fifth, speeding up the reform of foreign investment approval system; sixth, spreading the repeatable pilot reforms of the free trade zone; and seventh, making great efforts in building state-level economic and technical development zone.