Further opening-up

China bucked the trend of the global foreign direct investment (FDI) slide in 2018 as the largest investment recipient in the world, according to the United Nations Conference on Trade and Development (UNCTAD).

UNCTAD's director of Investment and Enterprise James Zhan attributed more investment flows into China to factors such as further liberalization, particularly in the service and financial sectors, and intensified efforts for promoting investment in high-tech industries.

"Last year was another record high level, and the prospects for a rise of FDI into China remain optimistic," said Zhan.

Foreign businesses are set to reap more benefits from China's continued efforts to widen market access and build a better business environment this year.

One of the highlights will be a unified foreign investment law that aims to adopt a model of pre-established national treatment with a negative list and strengthened protection of property rights of companies with foreign investments.

The law will be submitted to the upcoming plenary session of the National People's Congress, which is scheduled to open on March 5.