China remains top for foreign investments: report

BEIJING - China remains the world's top destination for foreign investments as the country still holds many competitive edges, a latest research report revealed Wednesday.

Steadily expanding domestic market, improving competition environment, technology talents, government's stimulus measures, cheap labor, and favorable tax policies are among the major attractions for foreign investments, according to a report jointly released by China Development Research Foundation and PricewaterhouseCoopers (PwC).

Citing results from a survey on 227 chief executive officers from multi-national companies, the report said 70 percent of those who had businesses in China plan to increase their investments in the coming five years.

The report found that companies considered enhancing transparency as vital for the creation of a fair competition environment, and most of them believed Chinese authorities are changing their stance in a positive way.

Although China's position at the top remained unchanged, other emerging economies, including India, Brazil, Turkey and some African countries, are catching up quickly, the report said.

As potential destinations become more diversified, multi-national companies become more cautious in making their choices, challenging China's top spot in the area, according to the report.

Latest official data showed foreign direct investment (FDI) into China came in at 8.21 billion U.S. dollars in February, up 6.32 percent year on year.