Explore new markets and integrate into the industrial chain

Release time:Jun 26, 2024 13:03 PM

The 15th Annual Meeting of the New Champions of the World Economic Forum opened in Dalian, Liaoning on the 25th. The global vision once again gathered on the shores of the Yellow Sea and Bohai Sea, focusing on the "new frontier of future growth" and exploring new drivers of world economic growth.

At this forum, China once again declared to the world its determination to maintain an open market environment. Foreign-invested enterprises attending the forum said that with the introduction of a series of policies to expand opening up, China's business environment has been continuously optimized, and foreign-invested enterprises are willing to deeply integrate into China's industrial chain, further invest in China, and take root in China.

"As a major country that is deeply involved in global governance, China continues to expand its high-level opening-up, promote the liberalization of trade and investment, and enhance its economic growth potential." Wu Chun, executive partner of Boston Consulting Group China, said that China's market potential, innovation vitality, and economic resilience provide multinational companies with a large number of certain development opportunities for operation in China.

From promoting pilot projects to expand opening up in areas such as value-added telecommunications services, to launching a negative list for foreign investment access and encouraging the revision of the catalogue of industries for foreign investment... Since the beginning of this year, China has launched a series of measures to expand high-level opening up to the outside world and increase efforts to attract foreign investment, opening up a broader space for foreign companies to layout the Chinese market.

"China is constantly reducing restrictions on foreign investment access, improving the level of foreign investment liberalization, and conducting pilot access in areas such as medical care and value-added telecommunications that are of great concern to foreign companies. This expresses China's sincerity in deepening opening up and optimizing the business environment to attract foreign investment, and it also creates convenient conditions for foreign companies to invest and cooperate in China," said Cai Wei, chief strategy officer of KPMG China Consulting.

"As the first foreign licensed institution allowed to provide online payment services in China, PayPal is one of the beneficiaries of the opening up of China's financial market. We are very pleased to see China's positive attitude in promoting financial openness, and we also hope to promote more business in China in the future." said Qiu Han, PayPal's global senior vice president and CEO of China.

According to the data from the Ministry of Commerce, from January to May this year, my country established 21,764 new foreign-invested enterprises, a year-on-year increase of 17.4%, continuing the trend of rapid growth in newly established enterprises since last year. Although the actual use of foreign capital has declined due to the high base last year, it is still at a historical high.

Explore new markets and integrate into the industrial chain

The picture shows the exterior view of Dalian International Conference Center, the main venue of the 15th Summer Davos Forum, taken on June 25. Photo by reporter Zhang Lei

The latest surveys released by the American Chamber of Commerce in China, the European Union Chamber of Commerce, the Japan Chamber of Commerce and others also show that the proportion of American, European and Japanese companies that plan to continue operating in China exceeds three-quarters.

Foreign investment expectations and confidence are generally stable, and my country's investment structure is constantly being optimized. Advanced manufacturing and modern service industries such as artificial intelligence, medical health, and digital economy have become key areas for many foreign companies to increase their investment in the Chinese market.

In China, Cisco has been making frequent moves recently, continuously strengthening cooperation in the field of artificial intelligence and integrating into the new industrial chain. Cisco Global Vice President and Greater China CEO Huang Zhiming said that in April this year, Cisco announced that it would cooperate with Hong Kong Cyberport to establish an artificial intelligence laboratory to study cutting-edge technologies in the field of artificial intelligence. Cisco also signed a memorandum of understanding with Shanghai Yuanjing Kechuang Intelligent Technology Co., Ltd. to jointly create a more sustainable digital ecosystem in the retail and high-end manufacturing industries.

"At present, Hitachi Group's smart elevators based on artificial intelligence technology are being implemented in many industrial parks in China." Masako Koike, general manager of the Technology Strategy Office of Hitachi Group's R&D Department, said that China is one of Hitachi's important overseas markets, and Hitachi has continuously increased its scientific and technological cooperation with China in recent years.

Data shows that from January to May, my country's manufacturing industry actually used 117.1 billion yuan of foreign capital, of which high-tech manufacturing attracted 50.41 billion yuan, accounting for 2.8 and 2.7 percentage points higher than the same period last year. The actual use of foreign capital in smart consumer equipment manufacturing and professional technical services increased by 332.9% and 103.1% respectively.

"The development of the artificial intelligence industry requires cooperation from more companies." Huang Zhiming said that Cisco will work closely with Chinese partners, academic institutions and other parties in the future to continuously deepen China's technological innovation, talent training and industrial chain construction, and promote the development of the artificial intelligence industry.

Qiu Han said that in the future, PayPal will continue to focus on cross-border payments and, based on its advantages such as its global network coverage, will deeply participate in the development of China's cross-border e-commerce and payment industries.

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