Why do multinational executives visit China intensively? What signals are released?
2024-04-09
Recently, many executives from multinational companies have come to China to participate in forums and meetings, discuss business cooperation, inspect the investment environment, and connect with relevant departments, constantly making it on the "hot search". Correspondingly, the number of newly established foreign-funded enterprises in China increased by 34.9% year-on-year in the first two months of this year; The State Council has introduced a series of policy measures to attract and utilize foreign investment with greater efforts; A survey shows that foreign-funded enterprises are continuously improving their satisfaction with the business environment in China. Why do multinational executives visit China intensively? What activities did they participate in? What signals did their remarks during their visit to China send? Since March this year, multinational executives have been visiting China intensively. On March 20th, Apple CEO Cook appeared in Shanghai and met with BYD Chairman and President Wang Chuanfu. Apple suppliers such as BYD Electronics, Lansi Technology, and Changying Precision showcased intelligent manufacturing technology and the components and products produced for Apple. The next day, Apple's largest retail store in Chinese Mainland opened in Shanghai. Cook stated that Apple will strengthen long-term partnerships with Chinese supply chain partners to achieve a win-win situation in green manufacturing and intelligent manufacturing. "For Apple's supply chain, there is nothing more important than China," Cook said. The 2024 Annual Meeting of the China Development Forum, held from March 24th to 25th, attracted nearly a hundred executives from multinational corporations. At the meeting, many executives mentioned that China is playing an increasingly important role in promoting global innovation and expressed their willingness to continuously expand their presence in China. "We plan to expand our investment in China, and a recent expansion project worth over 4.3 billion yuan in Xi'an, Shaanxi will break ground," said Sanjay Mehrotra, President and CEO of Micron Technology. "We will fully leverage our digital advantages, accelerate the dual transformation of digitalization and green low-carbon, share green opportunities with Chinese industries, and jointly promote high-quality development," said Zhao Guohua, Chairman of Schneider Electric Group. "Mercedes Benz's strategic goal of developing electric vehicles remains unchanged and will firmly expand investment in China." Mercedes Benz Chairman Kang Linsong stated that Mercedes Benz is willing to strengthen cooperation with the Chinese automotive industry and play a positive role in promoting the reduction of trade barriers and maintaining a fair competitive environment. In addition to expressing their opinions, many executives of multinational companies choose to personally take a walk, take a look, and get up close to experience the investment environment in various regions. At the end of March, the China Council for the Promotion of International Trade organized multiple foreign business associations and institutions, as well as representatives of more than 30 foreign-funded enterprises such as Qualcomm and General Electric Medical (China), to participate in the first stop of the "Local Tour" of foreign enterprises, including 15 Fortune 500 companies. They conducted government enterprise dialogue, investment talks, park research, and industrial investigation and docking in Haikou, Sanya, and other places. At the first landmark event of "Investing in China" held on March 26th, more than 140 entrepreneurs from 17 countries and regions, as well as representatives of foreign business associations in China, relevant officials from the Ministry of Commerce, the People's Bank of China, the Cyberspace Administration of the Central Committee of the People's Republic of China, and Beijing Municipal Government, interpreted policies related to optimizing the foreign investment environment, regulating cross-border data flow, and optimizing payment services in response to the concerns of foreign-funded enterprises, promoting credit enhancement and clarification. According to He Yadong, spokesperson for the Ministry of Commerce,
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