(Economic Observation) "Dual Cycles" Brings New Opportunities Multinational Corporations Look Forward to Participating in China's New Development Pattern
China News Service, Guangzhou, November 22 (by Cai Minjie) The 2020 "Understanding China" International Conference (Guangzhou) is being held in Guangzhou. The guests at home and abroad generally believe that despite the impact of the new crown pneumonia epidemic this year, transnational trade and investment have shrunk significantly. However, most multinational companies continue to be optimistic about China, and their long-term business development strategy in China has not changed.
Shi Minglun, Chairman of Swire Co., Ltd., sent a video at the conference, saying that at the beginning of reform and opening up, Swire was one of the few multinational companies that returned to mainland China.
"As a committed foreign investor, we have not only made our own contribution to China's success, but also benefited a lot from it."
Today, Swire Group has more than 38,000 employees and diversified businesses in Mainland China, with investments mainly in airlines, aircraft engineering, property development and management, beverages and food industries.
Shi Minglun said that Swire Group welcomes China to continue to implement a higher level of opening-up policy.
The new "Foreign Investment Law" that came into effect earlier this year has increased investor protection, enabling Swire and other foreign-funded companies to have a more level playing field and a better business environment.
Since Swire's core business is headquartered in Hong Kong, the Guangdong-Hong Kong-Macao Greater Bay Area has become a special focus of its investment strategy.
Shi Minglun believes that China's "dual cycle" new development pattern will not only help protect China's economy from external market fluctuations, it will also help promote future economic development in a more balanced and sustainable manner.
All these make foreign investors feel at ease about China's strong economic recovery and the potential for sustainable growth in the future. "Swire has full confidence in China's economy, and we will continue to invest in China."
Bosch Automotive China President George Andre said at the meeting that the Bosch Group has been operating in China for many years and has factories in many parts of China. "It was very small at the beginning, but it grew very rapidly."
George Andre said that the group has cooperation with many local governments and educational institutions in China, such as setting up innovation centers in Chongqing and Chengdu to showcase the group’s visualization solutions. “Our cooperation with China is very good. The quality of China’s development and growth is very good.”
Zhou Hong, President of Roche Pharmaceuticals China, based in Switzerland, said at the meeting that China is now opening to the outside world at a higher level to promote higher-quality development. Roche Group's strategy for the Chinese market is unswerving. During the epidemic, the group adopted video The meeting set the goal of China 2030, decided to accelerate R&D investment in China and upgrade to a global independent R&D center, including greatly increasing the scope of R&D and increasing investment. "We hope that while introducing global technology, we can also Going out will allow the innovative drugs developed by Chinese scientists on Chinese soil to go to the world."
Yun Mingqing, deputy director of the Asian Financial Think Tank, believes that in the process of China's higher level of opening up, multinational companies will play a more important role and gain a broader stage.
Zhao Ai, executive vice president of the China Society for Economic Restructuring, said that under the new development pattern, China’s door to opening up will become larger and opportunities for multinational companies will increase. “A number of statistics show that despite the The new crown pneumonia epidemic and the international environment are uncertain and unstable. However, China’s super-large-scale market, China’s excellent business environment, and its attractiveness to foreign investment have not changed, but have been increasing. This also reflects China’s economic development. Resilience and vitality".
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