The integration of the West into the dual cycle needs two-way empowerment

In the context of the global foreign direct investment is still sluggish, China has made a remarkable achievement in attracting foreign investment in the first quarter of 2021, with a year-on-year growth of 39.9%. In particular, the actual use of foreign investment in the western region has increased by 91%, attracting the attention of all parties. It is worth noting that in January this year, the western region's foreign investment increased by 24.2% year-on-year, compared with 50.9% in the first two months of this year, both exceeding the scale of the eastern region's foreign investment.

First of all, it is related to the changes of China's regional economic structure and comparative advantage in recent years. Liu Yingkui, director of the International Investment Department of the Research Institute of CCPIT, told China trade news that the western region's data of attracting foreign investment continues to exceed that of the eastern region, which means that the western region's late development advantage is highlighted. The western region has low-cost and sufficient supply of labor, land, natural resources and other factor resources, and has certain advantages in attracting foreign investment.

"In particular, the western region has open platforms such as the new land sea channel and the pilot Free Trade Zone, which have played an important role in attracting foreign investment." Liu Yingkui said that on the basis of the previous western development, the state has continuously optimized the local business environment through a series of policies and measures to push the western region to undertake the transfer of Foreign-funded Industries in the eastern region.

Gao Feng, a spokesman for the Ministry of Commerce, once said that China is also taking various measures to guide more foreign investment to the central and Western Regions: first, to improve the level of investment facilitation and reduce the institutional transaction costs of enterprises; second, to implement relevant preferential policies in tax, land use and credit; third, to build cross-border multimodal transport corridors to promote the reduction of circulation costs in the central and western regions; third, to promote the development of cross-border multimodal transport corridors to reduce the circulation costs in the central and western regions; Four, one belt, one road and one other region, should be supported to enhance the development level of the border economic cooperation zone and cross border economic cooperation zone.