Page 6 - 2017 Special Report
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markets?鈥� In 2016, although 29.9% of respondents reported 2-3 years for construction before producing goods. Given that 2016骞磋浆绉诲啀鎶曡祫鍒板叾浠栧競鍦虹殑涓昏鍘熷洜锛屽叾娆℃槸涓浗甯� 浜$緤琛ョ墷锛屾湭涓烘櫄涔熴€備篃璁镐粖骞存垜浠€婂崕鍗楀湴鍖虹粡娴庢儏
no shift, 13.3% of wholly foreign-owned enterprises, 11.4% of the above-mentioned postponed or reduced reinvestments 鍦哄墠鏅殑涓嶇‘瀹氭€с€佷腑鍥戒箣澶栫殑鍏朵粬甯傚満鍚稿紩鍔涙洿澶т互鍙� 鍐电壒鍒姤鍛娿€嬬殑璋冩煡缁撴灉鍙娿€婁腑鍥借惀鍟嗙幆澧冪櫧鐨功銆嬬殑缁�
joint ventures, and 26.67% of representative offices of foreign would have produced goods for exports in 2016 - and keeping 涓浗鏈湡绔炰簤婵€鐑堝鑷村競鍦虹幆澧冧笉鍏钩绛夈€� 璁哄拰寤鸿鑳藉鐪熸淇冧娇涓浗涓ぎ棰嗗灞傛槑鐧藉綋鍓嶅舰鍔跨殑绱�
enterprises, representing a substantial number of respondents, in mind that more than half of China鈥檚 exports are produced 杩€э紝骞跺強鏃朵负涓浗缁忔祹鏁插搷璀﹂挓銆傜幇鍦紝涓浗蹇呴』娓呴啋
replied that they had shifted some reinvestments to other by foreign invested enterprises, it can be deduced that those 姝ゅ锛屾牴鎹粖骞寸殑銆婄壒鍒姤鍛娿€嬶紝2017骞村啀鎶曡祫棰勭畻 鍦版剰璇嗗埌锛屾姇璧勮€呭涓浗鐨勪俊蹇冨強瀹為檯鍐嶆姇璧勯閮藉湪閫愭
Asian, ex-China destinations. Among the Chinese company investments were shifted to other parts of Asia from China and 鍚屾瘮涓嬫粦4.12%锛岃繖鎰忓懗鐫€鎶曡祫鑰呭涓浗甯傚満鏈潵涓€骞寸殑 涓嬮檷銆備负浜嗛伩鍏嶅眬闈㈠け鎺э紝涓浗蹇呴』杩呴€熷湴銆佹灉鏂湴瑙e喅
respondents a significant percentage (17.6%) said that they had are now producing exports for those countries. 淇″績鏈夋墍涓嬮檷銆� 涓浼佷笟鐣屾墍鎷呭咖鐨勭绉嶉棶棰樸€傛棤鍔ㄤ簬琛峰彧浼氳涓浗鐨勭粡
moved some reinvestments overseas to other Asian destinations. 娴庡仠婊炰笉鍓嶃€�
Approximately 30% of respondents cited rising operational costs Another major concern is land. Many foreign invested enterprise 鎴戜滑鍙戠幇锛�50%鍦ㄥ崕杩愯惀鐨勮法鍥戒紒涓氬湪2016骞村彇娑堜簡
in China as a major driving factor for diverting reinvestment manufacturing facilities in China were built some 15 years or so 瓒呰繃2.5浜跨編鍏冪殑鍐嶆姇璧勶紝浣嗗悓鏃跺鍔犱簡浣庝簬2.5浜跨編鍏冪殑 姝よ嚧
to other destinations. Other major factors named were the ago. The land that these enterprises occupy in many cases is 鍐嶆姇璧勯」鐩€傚悓鏍峰€煎緱鍏虫敞鐨勬槸锛屼笌鍘诲勾鐩告瘮锛�2017骞村
perceived uncertainty of market prospects in China, more now considered prime for redevelopment into commercial and 鍗庡啀鎶曡祫棰勭畻鍦�2.5浜跨編鍏冩垨浠ヤ笂鐨勮法鍥戒紒涓氬噺灏戜簡50%锛� 鏁ぜ锛�
attractive opportunities in competing destinations outside of residential real estate. While the central Chinese government 涓庢鍚屾椂锛屼綆浜�2.5浜跨編鍏冮绠楃殑鍐嶆姇璧勫嵈娑ㄤ簡涓€鍊嶃€傝繖绉�
China and the fierce local competition in China suggesting an has instituted a national law (鈥滀笁鏃ф敼閫犫€�) encouraging the 瓒嬪娍琛ㄦ槑鍗庡崡鍦板尯浼佷笟楂樼瀵瑰綋鍦版湭鏉ョ殑甯傚満鍙戝睍淇″績棰� 鍝堝埄鈥㈣禌浜氫竵鍗氬+
uneven playing field. conversion of old factory land into commercial and residential 婊★紝骞剁灏芥墍鑳斤紝鎸佺画鎶曡祫銆傜浉鍙嶏紝鍗庤タ鍦板尯鐨勪紒涓氶珮绠� 鍗庡崡缇庡浗鍟嗕細 浼氶暱
real estate, it has not provided any incentive, any regulation or 鍒欏欢鍚庨珮棰濇姇璧勩€備笂杩版儏鍐典护浜烘媴蹇э紝鎴戜滑棰勬祴锛�2016骞� 缇庝腑缁忔祹鍙婅锤鏄撴斂绛栧壇涓诲腑
In addition, the Study showed a 4.12% year-on-year decline in direction on how to support those factories which have been 楂橀鍐嶆姇璧勯」鐩殑鍙栨秷鍙�2017骞村啀鎶曡祫棰勭畻鐨勮鍑忓皢浠や腑 缇庡浗鍟嗕細浜氬お鍦板尯鐞嗕簨浼�
reinvestment budgets for 2017, implying an erosion of investor operating on these lands in order for them to resettle or move 鍥�2018骞村強2019骞寸殑鍑哄彛閲忚蛋浣庛€�
confidence in China for the upcoming year. economically and continue operating within China. Therefore,
many of these factories are moving out of China to other 鍐嶆姇璧勭殑涓嬮檷瓒嬪娍鏄粠2014骞村紑濮嬬殑锛屽綋鏃惰繕瀛樺湪澶�
We have noticed that in 2016 50% of multinationals with existing nearby countries. 璧勪紒涓氫粛鐒跺彈鍒扳€滈拡瀵光€濈殑鐪嬫硶銆傞殢鍚庯紝鎴戜滑2015骞寸殑
operations in China cancelled their reinvestments of over 銆婄壒鍒姤鍛娿€嬫樉绀猴紝2014骞村湪鍗庤繍钀ョ殑璺ㄥ浗浼佷笟鏈�25%
US$250 million or more, while at the same time they doubled Every now and then, we are contacted by a foreign-invested 閫夋嫨寤惰繜鎴栧彇娑堣秴杩�2.5浜跨編鍏冧互涓婄殑鍐嶆姇璧勩€傛牴鎹�2015
their reinvestments in the lower categories of less than US$250 enterprise telling us that they have been served notices to 骞寸殑銆婄壒鍒姤鍛娿€嬶紝鍗庡崡缇庡浗鍟嗕細浼氬憳浼佷笟鐨勫啀鎶曡祫棰勭畻
million. Also for 2017 50% fewer multinationals have budgeted move, either by a local developer or the local government and 涓嬮檷浜�9.3%锛涙洿绯熺硶鐨勬槸锛岃嚜2015骞磋捣锛屽彈璁夸紒涓氫笁骞�
reinvestments in the US$250 million or more category than last frequently, on very short notice. This is a major ongoing problem 鍐呯殑棰勭畻鍐嶆姇璧勯涓嬮檷浜�16.9%銆�
year. However, they have at the same time doubled their 2017 which China needs to address immediately or it will face losing
budgets in the reinvestment categories of less than US$250 substantial export revenue for the long term future. 浠�2016骞寸殑鍑哄彛鏁板瓧鏉ョ湅锛岃櫧鐒堕櫎涓浗澶栫殑浜氭床鍑哄彛
million. This trend suggests that executives on the ground in 棰濆悓姣斿闀胯秴杩�7%锛屼絾涓浗鍑哄彛浠嶇劧鐤茶蒋锛屽閫熶负-7%宸�
South China have a high level of confidence in the future of It is not too late. Perhaps the results of this year鈥檚 Special Report 鍙炽€傚啀鎶曡祫鎵╁缓宸ュ巶寰€寰€闇€瑕佺粡杩囦袱鍒颁笁骞存椂闂寸殑寤鸿涔�
the South China market and are investing amounts within their on the State of Business in South China, as well as, the conclusions 鍚庢墠鑳芥寮忔姇浜с€備笂鏂囨墍鎻愬強鐨勫啀鎶曡祫鑻ユ棤寤惰繜鎴栧噺灏戯紝
decision-making ability. Executives at corporate headquarters and recommendations in our White Paper on the Business 杩欓儴鍒嗗啀鎶曡祫搴旇兘鍦�2016骞村缓鎴愭姇浜с€傚悓鏃舵垜浠簲浜嗚В锛�
in the West, however, appear to be deferring large investments Environment in China, could actually help to urgently propel the 涓浗鏈夎繃鍗婄殑鍑哄彛鍟嗗搧鏄敱澶栬祫浼佷笟鐢熶骇鐨勩€傜敱姝ゅ彲鎺�
which require their sign-off. We predict that the cancellation of central Chinese leadership towards that badly needed wake-up 鏂紝涓婅堪寤惰繜鎴栧噺灏戠殑鍐嶆姇璧勫凡缁忎粠涓浗杞Щ鍒板叾浠栦簹娲�
larger reinvestments in 2016 and reduced reinvestment budgets call. It鈥檚 time to realize that there is steady erosion in investor 鍥藉锛岀洰鍓嶆鍦ㄧ敱鍏剁敓浜у嚭鍙e晢鍝併€�
for 2017 will translate into reductions in China鈥檚 exports in 2018 confidence and actual reinvestment in China. In order to stop
and 2019. these hemorrhaging, issues which concern both Chinese and 鍦熷湴鏄彟涓€涓富瑕侀棶棰樸€備腑鍥藉緢澶氬璧勪紒涓氱殑鍘傛埧璁炬柦
foreign businesses need to be swiftly and decisively addressed. 澶х害鏄湪鍗佷簲骞村墠寤洪€犵殑銆傚浠婏紝杩欎簺宸ヤ笟鐢ㄥ湴寰€寰€琚
The downward trend in reinvestment follows from 2014, when To ignore these issues could lead to China鈥檚 economic stagnation. 涓烘槸鍟嗕笟鍜屼綇瀹呮埧鍦颁骇寮€鍙戠殑榛勯噾鍦版銆傝櫧鐒朵腑澶斂搴滃凡
there was perceived 鈥渢argeting鈥� of foreign-invested enterprises 鍑哄彴鍥藉娉曡锛堚€滀笁鏃ф敼閫犫€濓級锛岄紦鍔辨敼閫犳棫鍘傛埧鐢ㄥ湴锛�
in China. Our 2015 Special Report subsequently revealed that in With best regards, 浣夸箣鎶曞叆鍒板晢涓氬強浣忓畢鐨勬埧鍦颁骇寮€鍙戜腑锛屼絾鏄叧浜庡浣曞府
2014 25% of multinationals with existing operations in China 鍔╃幇鏈夊伐鍘傛惉杩併€佸浣曞噺灏戣縼绉绘垚鏈苟鏀寔宸ュ巶鍦ㄥ崕缁х画
postponed or cancelled their reinvestments of over US$250 Dr. Harley Seyedin 杩愯惀锛屾斂搴滃苟鏈彁渚涗换浣曚紭鎯犳斂绛栥€佽瀹氭垨鎸囧紩銆傚洜姝わ紝
million or more. The 2015 Study showed a 9.3% reduction in President 寰堝宸ュ巶姝e湪绂诲紑涓浗锛岃縼寰€鍏朵粬鍛ㄨ竟鍥藉銆�
planned reinvestments by AmCham member companies; more The American Chamber of Commerce in South China
devastatingly, the same Study revealed a 16.9% reduction in Vice Chairman, U.S.- China Trade and Investment Policy 鎴戜滑涓嶆椂浼氭敹鍒板璧勪紒涓氱殑鏉ヤ俊锛屼粬浠姳鎬ㄥ湴鏂瑰紑
planned reinvestments for a three-year period from 2015. The Asia Pacific Council of American Chamber of Commerce 鍙戝晢鎴栧湴鏂规斂搴滀笅鍙戦€氱煡瑕佹眰浠栦滑鍦ㄧ煭鏃堕棿鍐呭畬鎴愭惉
杩併€傝繖鏄潪甯镐弗閲嶇殑闂锛岃€岀幇鍦ㄤ粛鏃舵湁鍙戠敓銆傝嫢鏀垮簻
Looking at export numbers for 2016, while total Asian exports 涓嶉┈涓婅В鍐宠繖涓棶棰橈紝涓浗鏈潵灏嗕細闈复澶ч噺鐨勫嚭鍙f敹
(ex-China) grew above 7% year on year, China鈥檚 exports remained 鍏ユ祦澶便€�
sluggish at around -7%. Most reinvestments in factories require
10 11
no shift, 13.3% of wholly foreign-owned enterprises, 11.4% of the above-mentioned postponed or reduced reinvestments 鍦哄墠鏅殑涓嶇‘瀹氭€с€佷腑鍥戒箣澶栫殑鍏朵粬甯傚満鍚稿紩鍔涙洿澶т互鍙� 鍐电壒鍒姤鍛娿€嬬殑璋冩煡缁撴灉鍙娿€婁腑鍥借惀鍟嗙幆澧冪櫧鐨功銆嬬殑缁�
joint ventures, and 26.67% of representative offices of foreign would have produced goods for exports in 2016 - and keeping 涓浗鏈湡绔炰簤婵€鐑堝鑷村競鍦虹幆澧冧笉鍏钩绛夈€� 璁哄拰寤鸿鑳藉鐪熸淇冧娇涓浗涓ぎ棰嗗灞傛槑鐧藉綋鍓嶅舰鍔跨殑绱�
enterprises, representing a substantial number of respondents, in mind that more than half of China鈥檚 exports are produced 杩€э紝骞跺強鏃朵负涓浗缁忔祹鏁插搷璀﹂挓銆傜幇鍦紝涓浗蹇呴』娓呴啋
replied that they had shifted some reinvestments to other by foreign invested enterprises, it can be deduced that those 姝ゅ锛屾牴鎹粖骞寸殑銆婄壒鍒姤鍛娿€嬶紝2017骞村啀鎶曡祫棰勭畻 鍦版剰璇嗗埌锛屾姇璧勮€呭涓浗鐨勪俊蹇冨強瀹為檯鍐嶆姇璧勯閮藉湪閫愭
Asian, ex-China destinations. Among the Chinese company investments were shifted to other parts of Asia from China and 鍚屾瘮涓嬫粦4.12%锛岃繖鎰忓懗鐫€鎶曡祫鑰呭涓浗甯傚満鏈潵涓€骞寸殑 涓嬮檷銆備负浜嗛伩鍏嶅眬闈㈠け鎺э紝涓浗蹇呴』杩呴€熷湴銆佹灉鏂湴瑙e喅
respondents a significant percentage (17.6%) said that they had are now producing exports for those countries. 淇″績鏈夋墍涓嬮檷銆� 涓浼佷笟鐣屾墍鎷呭咖鐨勭绉嶉棶棰樸€傛棤鍔ㄤ簬琛峰彧浼氳涓浗鐨勭粡
moved some reinvestments overseas to other Asian destinations. 娴庡仠婊炰笉鍓嶃€�
Approximately 30% of respondents cited rising operational costs Another major concern is land. Many foreign invested enterprise 鎴戜滑鍙戠幇锛�50%鍦ㄥ崕杩愯惀鐨勮法鍥戒紒涓氬湪2016骞村彇娑堜簡
in China as a major driving factor for diverting reinvestment manufacturing facilities in China were built some 15 years or so 瓒呰繃2.5浜跨編鍏冪殑鍐嶆姇璧勶紝浣嗗悓鏃跺鍔犱簡浣庝簬2.5浜跨編鍏冪殑 姝よ嚧
to other destinations. Other major factors named were the ago. The land that these enterprises occupy in many cases is 鍐嶆姇璧勯」鐩€傚悓鏍峰€煎緱鍏虫敞鐨勬槸锛屼笌鍘诲勾鐩告瘮锛�2017骞村
perceived uncertainty of market prospects in China, more now considered prime for redevelopment into commercial and 鍗庡啀鎶曡祫棰勭畻鍦�2.5浜跨編鍏冩垨浠ヤ笂鐨勮法鍥戒紒涓氬噺灏戜簡50%锛� 鏁ぜ锛�
attractive opportunities in competing destinations outside of residential real estate. While the central Chinese government 涓庢鍚屾椂锛屼綆浜�2.5浜跨編鍏冮绠楃殑鍐嶆姇璧勫嵈娑ㄤ簡涓€鍊嶃€傝繖绉�
China and the fierce local competition in China suggesting an has instituted a national law (鈥滀笁鏃ф敼閫犫€�) encouraging the 瓒嬪娍琛ㄦ槑鍗庡崡鍦板尯浼佷笟楂樼瀵瑰綋鍦版湭鏉ョ殑甯傚満鍙戝睍淇″績棰� 鍝堝埄鈥㈣禌浜氫竵鍗氬+
uneven playing field. conversion of old factory land into commercial and residential 婊★紝骞剁灏芥墍鑳斤紝鎸佺画鎶曡祫銆傜浉鍙嶏紝鍗庤タ鍦板尯鐨勪紒涓氶珮绠� 鍗庡崡缇庡浗鍟嗕細 浼氶暱
real estate, it has not provided any incentive, any regulation or 鍒欏欢鍚庨珮棰濇姇璧勩€備笂杩版儏鍐典护浜烘媴蹇э紝鎴戜滑棰勬祴锛�2016骞� 缇庝腑缁忔祹鍙婅锤鏄撴斂绛栧壇涓诲腑
In addition, the Study showed a 4.12% year-on-year decline in direction on how to support those factories which have been 楂橀鍐嶆姇璧勯」鐩殑鍙栨秷鍙�2017骞村啀鎶曡祫棰勭畻鐨勮鍑忓皢浠や腑 缇庡浗鍟嗕細浜氬お鍦板尯鐞嗕簨浼�
reinvestment budgets for 2017, implying an erosion of investor operating on these lands in order for them to resettle or move 鍥�2018骞村強2019骞寸殑鍑哄彛閲忚蛋浣庛€�
confidence in China for the upcoming year. economically and continue operating within China. Therefore,
many of these factories are moving out of China to other 鍐嶆姇璧勭殑涓嬮檷瓒嬪娍鏄粠2014骞村紑濮嬬殑锛屽綋鏃惰繕瀛樺湪澶�
We have noticed that in 2016 50% of multinationals with existing nearby countries. 璧勪紒涓氫粛鐒跺彈鍒扳€滈拡瀵光€濈殑鐪嬫硶銆傞殢鍚庯紝鎴戜滑2015骞寸殑
operations in China cancelled their reinvestments of over 銆婄壒鍒姤鍛娿€嬫樉绀猴紝2014骞村湪鍗庤繍钀ョ殑璺ㄥ浗浼佷笟鏈�25%
US$250 million or more, while at the same time they doubled Every now and then, we are contacted by a foreign-invested 閫夋嫨寤惰繜鎴栧彇娑堣秴杩�2.5浜跨編鍏冧互涓婄殑鍐嶆姇璧勩€傛牴鎹�2015
their reinvestments in the lower categories of less than US$250 enterprise telling us that they have been served notices to 骞寸殑銆婄壒鍒姤鍛娿€嬶紝鍗庡崡缇庡浗鍟嗕細浼氬憳浼佷笟鐨勫啀鎶曡祫棰勭畻
million. Also for 2017 50% fewer multinationals have budgeted move, either by a local developer or the local government and 涓嬮檷浜�9.3%锛涙洿绯熺硶鐨勬槸锛岃嚜2015骞磋捣锛屽彈璁夸紒涓氫笁骞�
reinvestments in the US$250 million or more category than last frequently, on very short notice. This is a major ongoing problem 鍐呯殑棰勭畻鍐嶆姇璧勯涓嬮檷浜�16.9%銆�
year. However, they have at the same time doubled their 2017 which China needs to address immediately or it will face losing
budgets in the reinvestment categories of less than US$250 substantial export revenue for the long term future. 浠�2016骞寸殑鍑哄彛鏁板瓧鏉ョ湅锛岃櫧鐒堕櫎涓浗澶栫殑浜氭床鍑哄彛
million. This trend suggests that executives on the ground in 棰濆悓姣斿闀胯秴杩�7%锛屼絾涓浗鍑哄彛浠嶇劧鐤茶蒋锛屽閫熶负-7%宸�
South China have a high level of confidence in the future of It is not too late. Perhaps the results of this year鈥檚 Special Report 鍙炽€傚啀鎶曡祫鎵╁缓宸ュ巶寰€寰€闇€瑕佺粡杩囦袱鍒颁笁骞存椂闂寸殑寤鸿涔�
the South China market and are investing amounts within their on the State of Business in South China, as well as, the conclusions 鍚庢墠鑳芥寮忔姇浜с€備笂鏂囨墍鎻愬強鐨勫啀鎶曡祫鑻ユ棤寤惰繜鎴栧噺灏戯紝
decision-making ability. Executives at corporate headquarters and recommendations in our White Paper on the Business 杩欓儴鍒嗗啀鎶曡祫搴旇兘鍦�2016骞村缓鎴愭姇浜с€傚悓鏃舵垜浠簲浜嗚В锛�
in the West, however, appear to be deferring large investments Environment in China, could actually help to urgently propel the 涓浗鏈夎繃鍗婄殑鍑哄彛鍟嗗搧鏄敱澶栬祫浼佷笟鐢熶骇鐨勩€傜敱姝ゅ彲鎺�
which require their sign-off. We predict that the cancellation of central Chinese leadership towards that badly needed wake-up 鏂紝涓婅堪寤惰繜鎴栧噺灏戠殑鍐嶆姇璧勫凡缁忎粠涓浗杞Щ鍒板叾浠栦簹娲�
larger reinvestments in 2016 and reduced reinvestment budgets call. It鈥檚 time to realize that there is steady erosion in investor 鍥藉锛岀洰鍓嶆鍦ㄧ敱鍏剁敓浜у嚭鍙e晢鍝併€�
for 2017 will translate into reductions in China鈥檚 exports in 2018 confidence and actual reinvestment in China. In order to stop
and 2019. these hemorrhaging, issues which concern both Chinese and 鍦熷湴鏄彟涓€涓富瑕侀棶棰樸€備腑鍥藉緢澶氬璧勪紒涓氱殑鍘傛埧璁炬柦
foreign businesses need to be swiftly and decisively addressed. 澶х害鏄湪鍗佷簲骞村墠寤洪€犵殑銆傚浠婏紝杩欎簺宸ヤ笟鐢ㄥ湴寰€寰€琚
The downward trend in reinvestment follows from 2014, when To ignore these issues could lead to China鈥檚 economic stagnation. 涓烘槸鍟嗕笟鍜屼綇瀹呮埧鍦颁骇寮€鍙戠殑榛勯噾鍦版銆傝櫧鐒朵腑澶斂搴滃凡
there was perceived 鈥渢argeting鈥� of foreign-invested enterprises 鍑哄彴鍥藉娉曡锛堚€滀笁鏃ф敼閫犫€濓級锛岄紦鍔辨敼閫犳棫鍘傛埧鐢ㄥ湴锛�
in China. Our 2015 Special Report subsequently revealed that in With best regards, 浣夸箣鎶曞叆鍒板晢涓氬強浣忓畢鐨勬埧鍦颁骇寮€鍙戜腑锛屼絾鏄叧浜庡浣曞府
2014 25% of multinationals with existing operations in China 鍔╃幇鏈夊伐鍘傛惉杩併€佸浣曞噺灏戣縼绉绘垚鏈苟鏀寔宸ュ巶鍦ㄥ崕缁х画
postponed or cancelled their reinvestments of over US$250 Dr. Harley Seyedin 杩愯惀锛屾斂搴滃苟鏈彁渚涗换浣曚紭鎯犳斂绛栥€佽瀹氭垨鎸囧紩銆傚洜姝わ紝
million or more. The 2015 Study showed a 9.3% reduction in President 寰堝宸ュ巶姝e湪绂诲紑涓浗锛岃縼寰€鍏朵粬鍛ㄨ竟鍥藉銆�
planned reinvestments by AmCham member companies; more The American Chamber of Commerce in South China
devastatingly, the same Study revealed a 16.9% reduction in Vice Chairman, U.S.- China Trade and Investment Policy 鎴戜滑涓嶆椂浼氭敹鍒板璧勪紒涓氱殑鏉ヤ俊锛屼粬浠姳鎬ㄥ湴鏂瑰紑
planned reinvestments for a three-year period from 2015. The Asia Pacific Council of American Chamber of Commerce 鍙戝晢鎴栧湴鏂规斂搴滀笅鍙戦€氱煡瑕佹眰浠栦滑鍦ㄧ煭鏃堕棿鍐呭畬鎴愭惉
杩併€傝繖鏄潪甯镐弗閲嶇殑闂锛岃€岀幇鍦ㄤ粛鏃舵湁鍙戠敓銆傝嫢鏀垮簻
Looking at export numbers for 2016, while total Asian exports 涓嶉┈涓婅В鍐宠繖涓棶棰橈紝涓浗鏈潵灏嗕細闈复澶ч噺鐨勫嚭鍙f敹
(ex-China) grew above 7% year on year, China鈥檚 exports remained 鍏ユ祦澶便€�
sluggish at around -7%. Most reinvestments in factories require
10 11