China remains the world's top destination for foreign investments as the country still holds many competitive edges, state-run Xinhua News Agency reported 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 research paper jointly released by China Development Research Foundation and PricewaterhouseCoopers.
Citing results from a survey on 227 chief executive officers from multi-national companies, the research paper said 70 percent of those who had businesses in China plan to increase their investments in the coming five years. 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 research 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 into China came in at USD 8.21 billion in February, up 6.3 percent year on year.