Argentine analysts hails China's decision to draw more FDI in 2017

BUENOS AIRES - China's decision to attract more foreign direct investment (FDI) amid gloomy global financial outlook marks a clear step forward, according to Argentine analysts.

"2017 is expected to be a year of stability in regard to the inflow of FDI" for China, Nadia Radulovich and Maria Cecilia Peralta, co-founders of Argentine consulting group Asia Viewers, told Xinhua in a recent interview.

China has announced it will strive to attract more foreign investment in 2017 to spur innovation and economic growth.

The United Nations Conference on Trade and Development's report late last year showed China is still one of the most attractive investment destinations.

According to the European Union Chamber of Commerce in China, more than two-thirds of EU companies' operations in China were profitable. The American Chamber of Commerce in China has said 68 percent of businesses plan to expand investment in the country.

In the first 11 months, China recorded 731.8 billion yuan (around $105 billion) of foreign investment, up 3.9 percent year-on-year, according to figures released by its Ministry of Commerce.

China's FDI initiative needs to take note of the "level of consumption, both domestic and foreign," they said.

China "needs the inflow of foreign investment to be able to continue the process of development, along with the process of innovating and improving the expansion of goods and services with greater added value into the global market," they added.