To date, China has granted 13 foreign-invested companies access to value-added telecom services, over 40 foreign-funded biotechnology projects have kicked off, and three new wholly foreign-owned hospitals have been approved for operation, He Yongqian, a spokesperson for the ministry told a press conference.

China will expand the scope of its opening-up pilot program this year, targeting areas such as education and culture, He said.

The ministry will also step up efforts to make China a favored destination for foreign investment, the spokesperson said, adding the country is also preparing a series of promotion activities abroad to attract foreign investors.

He said that the ministry has helped resolve more than 500 issues for foreign-funded enterprises through roundtable meetings and pledged continuous efforts to improve service and business environment for foreign investors.

China will continue to support both domestic and foreign-funded enterprises in participating in activities such as large-scale equipment upgrades, consumer goods trade-in program and government procurement, ensuring a level playing field for foreign-funded firms, the spokesperson said.

China has taken multi-pronged measures to stabilize foreign investment since the start of this year. Last month, the country issued an action plan to stabilize foreign investment in 2025.