(Economic Watch) Foreign companies in Davos look at China in the summer: the recovery of the Chinese market brings unlimited opportunities

Tianjin, June 6 (ZXS) -- The 28th Summer Davos Forum is being held in Tianjin, where more than 100,1500 political and business elites and scholars from nearly <> countries and regions around the world discuss ways to recover the global economy and sustainable development. In an interview with China News Agency, the relevant responsible persons of a number of foreign-funded enterprises said that the recovery of the Chinese market and the improvement of the economy have brought new opportunities to the world.

On June 6, the 27th Summer Davos Forum opened in Tianjin. The picture shows the New Champions Village. Photo by China News Agency reporter Tong Yu

Since the beginning of this year, China's economic recovery has shown a good trend. In the first quarter, China's economy grew by 4.5% year-on-year, and it is expected that the economic growth rate in the second quarter will be faster than in the first quarter, and the expected economic growth target of about 5% is expected for the whole year. With the steady turn of epidemic prevention and control, the vitality of the Chinese market has been continuously released, which is favored by global investors.

Yang Weizhi, Vice Chairman of PwC China, believes that although the current global situation is complicated, China's economic recovery will inject more confidence into the global economy. China has a huge market and potential, as well as abundant resources and technology. Continuing to promote high-level opening up and strengthening in-depth and all-round cooperation with other countries are of great significance to China and the recovery of the world economy.

Since the beginning of this year, many executives of multinational enterprises have visited China, and foreign-funded enterprises are generally full of confidence in China's economic development prospects and have cast "votes of confidence" in China's economic development prospects with practical actions. According to data from China's Ministry of Commerce, in the first five months of this year, 5,18532 foreign-invested enterprises were newly established nationwide, a year-on-year increase of 38.3%. During the interview, the heads of a number of foreign-funded enterprises also expressed their importance to the Chinese market, and they will explore opportunities and continue to deepen their cultivation in the future.

Wang Rui, senior vice president of Intel Corporation and chairman of Intel China, said that the importance of international companies to the Chinese market is beyond many people's imagination. China is the cornerstone of world economic development, and 30% of the contribution of world economic growth comes from China. "We are determined to develop and believe that China's potential is still there." Multinational companies like Intel must hope to take deeper roots in China. This year is our 39th year of development in China, and I hope we celebrate 40 years and then 50 years. ”

Rio Tinto China CEO Ren Binyan said that China is Rio Tinto's largest market and an important strategic partner. The strong development of China's economy has sent a very positive signal to the world, and its firm determination to promote a higher level of opening up has also brought valuable certainty to today's uncertain world. "In recent years, we have continuously expanded our strategic partnership with China to carry out mutually beneficial cooperation in trade, exploration, joint venture projects, research and development, talent development and climate change. We will continue to work to provide the materials needed for China's high-quality development and work with Chinese partners to promote the low-carbon transformation and green development of the industry. ”

The Summer Davos Forum is the first time in four years that it has resumed offline meetings. For some foreign companies, this is also a good opportunity to expand into new customers in China.

Chun Wu, Managing Partner of Boston Consulting Group (BCG) China, said that China's vast market opportunities and ongoing economic reform measures can provide a large number of "certain" development opportunities for local and multinational companies, and he believes that China's economy and enterprises operating in China will continue to maintain resilient development in 2023.

Yu Feng, president of Honeywell China, said that he hopes to participate in the Summer Davos Forum to communicate with potential customers to understand how to better meet customer needs. "Honeywell is confident in the Chinese market and continues to look for opportunities to invest and grow in China. In the past 6 months, I have flown more than 40 times in China, hoping to seize new opportunities and achieve new development. ”

He said that China has been Honeywell's second largest market and largest growth market in the world for many consecutive years, and Honeywell is confident that China's business will continue to grow. Honeywell has always adhered to the concept of deeply cultivating China for long-term development. Facing the future, China's industry is moving towards digitalization and greening. All industries are accelerating digital transformation and low-carbon transformation, which will provide new momentum for world economic growth and provide broad space for the development of enterprises from all over the world in China. A higher level of opening-up will further unlock the potential and dividends of the Chinese market, and Honeywell looks forward to better participating and exerting its value. (End)