The State Council Information Office announced on Tuesday that the seventh Qingdao Multinationals Summit will be held in Qingdao, Shandong province, from June 15 to 17, and that more than 350 foreign executives from 36 countries have confirmed their attendance.

This latest event, along with a flurry of recent international trade and investment promotion activities, highlights the confidence of foreign companies in the world's second-largest economy. The sustained influx of foreign investment into China, even as global foreign direct investment trends downward, is a testament to China's unique positioning in the world economy.

China's allure as a destination for foreign investment is evident in the latest data from the Ministry of Commerce: from January to April this year, 20,113 new foreign-invested enterprises emerged nationwide, a 6.8 percent increase year-on-year. This growth is not merely a fleeting trend but part of a broader trajectory that has seen the number of foreign-funded enterprises in China rise consistently over the past three years, surpassing 530,000 and collectively channeling over $3.6 trillion into the economy.

More than 3,000 foreign-funded enterprises further expanded their investments in China during the same period, a trend also recorded last year which saw more than 8,000 foreign-funded companies make additional investment in China, up more than 10 percent year-on-year.

Against the undercurrents of the "decoupling" from China rhetoric and sluggish world economic growth, the latest data underscore that in a turbulent world, the Chinese market stands out as a beacon for foreign investors due to its predictability, reliability and steady growth.

The improvement of China's business environment — characterized by an increasingly shorter negative list, the rule of law and nondiscriminatory treatment — is another key factor driving the influx of foreign investment.

From January to April, the actual use of foreign capital in high-tech sectors reached 116.33 billion yuan ($17.14 billion), reflecting a significant 20.3 percent increase year-on-year. These sectors alone accounted for 40.4 percent of the total foreign capital utilized in the country, up by 10.3 percentage points from the previous year. Within this realm, areas such as R&D and design services, computer and office equipment manufacturing, and electronics and communication equipment manufacturing have witnessed remarkable growth, with year-on-year increases of 108.4 percent, 22.9 percent and 20.2 percent respectively. These statistics highlight a shift in foreign investment patterns, moving away from traditional manufacturing toward more innovative and technologically advanced industries.

As China continues to enhance its industrial foundation and research and development environment, it is ready to attract even more foreign investment eager to tap into its comprehensive value chain advantages in emerging technologies and new industries. This shift from "quantity" to "quality" in foreign investment is a clear indicator of China's evolving economic landscape, where innovation and high-end manufacturing are becoming the new pillars of growth.

The country's proactive approach is reshaping China's role from being the global manufacturing hub to a central node in the global value chain. The country's commitment to opening its market, particularly in the service industry, is evident as it accounts for over 70 percent of the actual use of foreign capital. The Ministry of Commerce has outlined plans to expand market access and create new advantages to attract foreign investment, particularly in sectors such as green transformation, intelligent manufacturing and digital services.

This is reinforced by the trend of investment from developed countries increasingly producing in China and utilizing advanced technologies developed by local Chinese companies to enhance the competitiveness of their entire operations.

This diversification reflects the broader transformation in China's economic development, driven by continuous market opening, reduced barriers to foreign investment, and the implementation of national treatment policies.

There is no doubt that China remains a magnet for foreign investors seeking growth and opportunity in an increasingly difficult global economy.

It is high time some in the West put to rest their parochial ideology and bias against China, and did more to build bridges than put up barriers. By recognizing the strategic importance of the Chinese market, businesses and policymakers can navigate the complexities of globalization in a way that promotes shared prosperity and sustainable growth.