BRI momentum

As for the investment sources, inflows of foreign capital from countries participating in the Belt and Road Initiative increased by 58.2 percent, from members of the Association of Southeast Asian Nations by 60 percent and from nations of the European Union by 7.5 percent on a yearly basis in the first quarter, the ministry said.

Woody Guo, president of Herbalife Nutrition China and senior vice-president of Herbalife Nutrition, a US-based multinational company, said China's efforts to further open up and protect the legitimate rights of foreign investors, and business opportunities arising from China's economic growth, have jointly firmed up the company's decision to keep investing heavily in China.

"We have noticed that China keeps opening up to the outside world in recent years and has created more development opportunities for foreign-funded enterprises," he said.

"The country's pursuit of the new dual circulation development pattern means more opportunities in the domestic consumption market for foreign-funded companies like us."

By 2030, the scale of China's health industry market is expected to exceed 16 trillion yuan, he said, adding that health and nutrition companies are sure to enjoy a promising future in China.

The company has accelerated new product launches in China. All 18 new products it launched in the Chinese market in 2020 have been selling well.

It has also established a localization strategy, building its first product innovation center globally in China. The Herbalife Nutrition Product Innovation Center started operations at the end of last year in Shanghai.