That it has taken only 358 days for Tesla's Gigafactory in Shanghai to deliver its first Model 3 electric car to a local buyer after the ground breaking ceremony for its 157,000-square-meter phase-one plant speaks volumes of the efficiency with which China can help foreign enterprises translate their visions into reality.
China's more than 40 years of fast economic growth and social development have been accompanied by its active integration into the global value chain, during which foreign investors, including more than 490 of the world's top 500 corporations, have spent about $2.1 trillion founding more than 900,000 ventures in it.
Its business environment quality ranking in the Doing Business report of the World Bank rose from the 78th in 2017 to the 31st last year. And since the new Foreign Investment Law took effect on Jan 1, its business environment seems set to dock with that of the world, and bear more predictability, transparency and rule-of-law in intellectual property rights protection. Any resistance it encounters in the confrontation with protectionism and unilateralism will only strengthen its resolve to advance reform and opening-up.
Source: China Daily
