Last year, 53,696 new foreign firms in the service sector were registered, accounting for 88.7 percent of all newly registered foreign-invested companies.

So far, foreign investment has spread to high-tech sectors including computer, integrated circuit and intelligent manufacturing.

Today, China is home to more than 2,000 regional headquarters and R&D centers of multinational companies, seeing improving quality in utilizing foreign investment as well as optimizing the structure of industries.

Emerging in the southeast regions of China, foreign investment moved inward along the border and the rivers of the country as well as to port cities.

In 2018, investment in the eastern region accounted for 85.5 percent of the total foreign investment, while the central and western regions attracted 17.9 percent and 20.4 percent of the total.

Bright future in China

China has been making consistent efforts to optimize its business environment and embrace investors worldwide. The country advanced to a global ranking of 46 in terms of ease of doing business last year, up from 78 in 2017, according to a World Bank Group report.

In March 2019, China's national legislature passed the foreign investment law, the landmark legislation for foreign investment, which will come into effect on Jan. 1, 2020.

According to the law, China will create a stable, transparent, predictable and fair market environment.

The country will set up six new pilot free trade zones to bring the total number to 18, which serve as pioneers to test new forms of foreign investment management, trade facilitation and transformation of government functions.

The country will also lift the investment quota limit for approved foreign investors to boost financial reform and opening up.

Determined to safeguard free trade and integrate itself into economic globalization, China will continue its win-win cooperation with investors around the world.