Lujiazui, the financial center in Shanghai, forms a perfect backdrop to the Bund area. (WANG GANG / FOR CHINA DAILY)
China will definitely maintain its charm as a favorite investment destination for multinationals, thanks to its continuous drive of opening-up, global business leaders and economists have said.
Given that the country is further expanding market access and pursuing high-quality growth, it will bring more exciting business opportunities to global companies, and the only question left will be how to seize these golden opportunities.
Given that the country is further expanding market access and pursuing high-quality growth, it will bring more exciting business opportunities to global companies, and the only question left will be how to seize these golden opportunities
So said business leaders and economists who addressed a China Daily-hosted forum.
The CEO: Growing with China forum, with the theme of New Year, New Opportunities, aired on Saturday.
China's opening-up policy has presented new opportunities for foreign financial institutions like Swedish financial group SEB, with foreign ownership caps removed in many areas of the financial sector and expanded business scope for foreign institutions, said Peter Ling-Vannerus, chief representative of SEB Beijing.
ALSO READ: China's manufacturing PMI sustains expansion
He added that one area presenting a huge opportunity for his company and clients is the green transition that China is going through.
China has stressed at multiple top-level meetings that it will continue to expand opening-up. The Central Economic Work Conference, for instance, has pledged further opening-up at the institutional level, fairer treatment for foreign companies and steps to attract more multinationals.
Ibrahim Chowdhury, the World Bank's acting lead economist for China, said maintaining an outward orientation and continuing the process of opening-up will serve as key drivers of the nation's high-quality growth transition.
China has made a lot of progress in opening up the economy, and it is sensible to further open up services sectors such as professional services and IT-enabled services, which will help spur innovation, boost employment and lift economic growth, Chowdhury said.
ALSO READ: China records 8.1% GDP expansion for 2021
Julian MacCormac, country director for China at Rolls-Royce, a British giant in power and propulsion systems, said, "China is a very important market for us and we will continue to be there."
The company has long-term confidence in China's aviation market, which is expected to become the world's largest.
High-quality growth of China's economy will also translate into a growing middle-income group and rising demand for products provided by Rolls-Royce, according to MacCormac.
Similarly, Guy Dru Drury, chief representative for China, Northeast and Southeast Asia at the Confederation of British Industry, said China's strong consumer base and improvements in its business environment have underpinned the confederation member companies' long-term optimism in the Chinese market.
Particularly, the country's progress in strengthening intellectual property protection has been very "encouraging" for small and medium-sized member companies, Drury said, as these efforts have lifted the efficiency of patent registrations and cracked down on IP infringements.
READ MORE: UNCTAD: China to easily outperform minimum GDP goal
Business leaders and experts also noted at the forum that ample space remains for cooperation between the world's two biggest economies and that the so-called decoupling between China and the United States, if realized, will be very costly for both sides and for the world as a whole.
The forum, aimed at providing a platform for multinationals to exchange ideas and explore new business opportunities in China, was organized by China Daily's business news department and www.chinaservicesinfo.com, a platform aiming to provide foreigners with services related to investment, study, travel, work and living in China.
