China will launch a new system at the end of this month for foreign companies to file complaints, grievances and suggestions, so that the government could redress them promptly, thereby helping improve the business climate and attract more foreign investment, said a senior government official on Friday.

Addressing a news conference in Beijing, Chen Chunjiang, assistant minister of commerce, said that through the new system, foreign companies can promptly address operational issues, submit suggestions to the Ministry of Commerce online, contact handling personnel for inquiries and track the processing of their requests.

"This move aims to effectively address the concerns of multinational companies," he said.

Speaking ahead of the 2023 Qingdao Multinationals Summit, which will be held in Qingdao, East China's Shandong province, from Oct 10 to 12, Song Junji, vice-governor of Shandong, said that the holding of this event is expected to promote economic exchanges between Chinese businesses and global companies, and encourage MNCs to invest in advanced manufacturing, modern services, high-tech and green sectors in China.

The country's current advantage is that it is at the forefront of numerous pivotal technological innovations that hold great promise for the future. This bodes well for the country's manufacturing industry, said Gu Xueming, president of the Beijing-based Chinese Academy of International Trade and Economic Cooperation.

Rather than just attracting foreign capital for building more factories, China's ongoing industrial upgrade and green transformation will bolster the country's competitive edge and create a conducive environment for foreign companies to invest in a wide range of sectors like digitalization, high-tech manufacturing and innovation, he said.

As China has placed a greater emphasis on expanding its openness in the fields of trade in services, green sustainability and digital transformation, French multinational Schneider Electric sealed a strategic cooperation deal with Sunshine Pump (Tianjin) Co Ltd in Shanghai earlier this week to improve the latter's production efficiency and quality, optimize energy-saving and reduce carbon emissions.

Pang Xingjian, senior vice-president of Schneider Electric, said the interdependence of digital acceleration and sustainable development as long-term strategies is good for industrial businesses. Digitalization forms the bedrock upon which sustainability is built, while sustainability, in turn, provides fresh opportunities and momentum for further digitalization in China.

Foreign direct investment or FDI in China's manufacturing industry grew by 6.8 percent year-on-year to 239.95 billion yuan ($32.86 billion) in the first eight months. FDI in high-tech manufacturing soared nearly 20 percent year-on-year, data from the Ministry of Commerce showed.