Invest in the Chinese market and share development opportunities-瞭望新时代网-瞭望时代，放眼世界

Invest in the Chinese market and share development opportunities

2024-07-17

In recent years, China has actively connected with high standard international economic and trade rules, steadily expanded institutional openness, and provided broader development space for enterprises from various countries to invest in China. Some responsible persons of Fortune 500 companies that have been developing in China for many years told our reporter that they are optimistic about the massive demand created by the Chinese market, the hard power of "Chinese innovation" and "Chinese manufacturing", and will continue to invest in China to share development opportunities. I am optimistic about the prospects of the Chinese market. Since the beginning of this year, the Chinese economy has continued to recover and improve. In the first half of the year, the gross domestic product (GDP) grew by 5.0% year-on-year, and the overall operation is stable and steady with progress. The International Monetary Fund, World Bank, and others have previously raised their expectations for China's economic growth in 2024. Su Boke: Rooted in China for more than 30 years, we have always been optimistic about the Chinese market. Nowadays, China has become AstraZeneca's second largest market and an important growth engine worldwide. In the past year, I have traveled back and forth to China six times, truly experiencing the sustained improvement of the Chinese economy and the enormous development resilience and potential it contains. China adheres to the policy of opening up to the outside world and continuously optimizes the business environment, which further enhances our confidence in investing in China and strengthens our determination for long-term development in China. Abdulrahman Al Fati: China is one of the important strategic markets for Saudi Basic Industries Company and a key cornerstone supporting the company's global growth, contributing nearly 20% of our revenue. Saudi Basic Industries Company insists on rooting itself in the Chinese market, continuously creating synergies, and is committed to achieving mutual benefit and win-win results. In February of this year, I went to Fujian, China to participate in the comprehensive construction of the main project of the Shazhong Gulei Ethylene Project, witnessing another important milestone in our development in China. As the world's second-largest economy and a powerful engine of global economic growth, China continues to promote high-quality development, providing a broader space for the growth and expansion of multinational enterprises. Sima Sheng: Last year, China's gross domestic product exceeded RMB 126 trillion, a year-on-year increase of 5.2%, higher than market expectations. We have reason to believe that China, with its solid industrial development foundation and continuously growing domestic market demand, will continue to be an important driving force for global economic growth. Over the past 20 years, China has been Vale's largest market, and since 2014, it has become a sales destination for over 50% of Vale's iron ore products. We have full confidence in the Chinese market. Bo Wanshang: China has become L'Oreal's second largest market globally and is one of L'Oreal's most strategically significant growth engines. After coming to China, I deeply felt the rapid development and great changes in China. The Chinese market has created valuable opportunities for us to attract more consumers. At present, L'Oreal has served over 100 million Chinese consumers, and this number is expected to grow to 500 million in the future. Luo Xiaoli: In the 40 years since entering the Chinese market, we have witnessed the rapid development of China's elevator industry. In Otis' global strategy, the Chinese market plays a crucial role. China has become the largest market for new elevator installations worldwide. At the same time, China is vigorously promoting urban renewal and modern infrastructure construction, driving new demand for elevator equipment and services; Accelerate digital transformation and promote the implementation of more intelligent interconnected building solutions; Promoting high-quality development has created more opportunities for the development and construction of intelligent and sustainable buildings. The enormous potential of the Chinese market will drive Otis to further expand its business in China. Strengthening the operational capabilities of enterprises: China continues to promote high-quality development, accelerate the development of new quality productive forces, and cultivate and strengthen new driving forces. This not only provides strong support for the sustained and healthy development of the Chinese economy, injects more and stronger impetus into the recovery and growth of the world economy, but also creates greater cooperation space for enterprises from various countries. Sima Sheng: This year, new quality productivity has become a hot topic in China, and Vale has truly benefited from the development of China's new quality productivity. China's photovoltaic module production has been ranked first in the world for several consecutive years. Last July, Vale's "Cerrado Solar Park" located in Yaiba, Minas Gerais state, Brazil, achieved maximum power generation capacity, helping us achieve our goal of 100% renewable energy supply in Brazil two years ahead of schedule. The photovoltaic modules used in this park are provided by Chinese companies. As one of the largest solar energy parks in Latin America, the peak installed capacity of "Cerrado Solar" is as high as 766 megawatts, equivalent to the annual electricity consumption of a city with a population of 800000. Su Boke: The development of new quality productivity in China is particularly important for the medical and health field. China is at the forefront of biopharmaceutical innovation, and multinational pharmaceutical companies working together with Chinese partners will make greater progress in the research and production of high-quality drugs. We believe that the continuous improvement of quality and efficiency in the development of China's digital economy will effectively enhance medical efficiency and patient health management. At the 6th China International Import Expo, the "Sustainable Market Initiative" China Council Health System Working Group announced its establishment, and AstraZeneca is honored to be the co chair unit, committed to accelerating the achievement of zero carbon emissions in the healthcare sector. China has many advantages in global healthcare, innovation, and sustainable development. AstraZeneca hopes to bring Chinese innovation to the world and play a greater role in addressing global healthcare challenges. Bo Wanshang: China attaches great importance to technological innovation and is committed to promoting global technological innovation collaboration, which has inspired multinational companies including L'Oreal. In April of this year, L'Oreal's world's first self built intelligent operation center was opened in Suzhou. As an operation center that integrates top automation technology and advanced digital systems, this center can not only better meet the growing needs of Chinese consumers through big data empowerment, but also strengthen the operational capabilities of enterprises in China, and will further become an incubation center for L'Oreal's operational innovation in North Asia and global markets. Luo Xiaoli: China is deeply promoting high-quality development, developing new quality productive forces according to local conditions, accelerating the construction of a modern industrial system, and creating numerous valuable opportunities for foreign-funded enterprises to develop in China. Especially with the acceleration of urbanization and the continuous improvement of people's living standards, China has implemented a series of measures such as urban renewal, smart cities, digital transformation, and sustainable development, which have increasingly demanded innovation from advanced manufacturing enterprises. Otis needs to seize innovation opportunities, consolidate the foundation of quality, focus on exploring deep market demands, continuously improving technological innovation capabilities, and building a more complete industrial system to support all-round innovation. With advanced products and high-quality services, it will provide Chinese consumers with more intelligent, green, and safe vertical transportation solutions. In recent years, witnessing the optimization of the business environment, China has focused on creating a market-oriented, rule of law, and international business environment, promoting the gathering of various innovative elements to enterprises, vigorously promoting the spirit of excellent entrepreneurs, and fully unleashing the innovation vitality of enterprises, providing a stage for companies from various countries and local enterprises to compete, exchange, and cooperate on a fair track. In recent years, we have witnessed China's determination and actions to deepen high-level opening-up and promote international cooperation. The Chinese government has introduced a series of policy measures to further optimize the foreign investment environment, promote the facilitation of foreign investment, and provide numerous opportunities and space for foreign-funded enterprises, including AstraZeneca, to develop in China. We particularly note that China attaches great importance to and accelerates the development of the biopharmaceutical industry, which will bring innovative drugs and treatment options to more patients. Abdulrahman Al Fati: Over the past 40 years of reform and opening up, the business environment in China has been continuously optimized, providing enormous opportunities for enterprises from various countries to enter the Chinese market and participate in China's development. Thanks to this, Saudi Basic Industries Company has successfully expanded its operations and production scale in China, improving service flexibility and supply reliability while being close to customers. It is worth mentioning that we have also established strategic partnerships with industry leaders in China, setting up joint ventures in Tianjin and Fujian respectively, and continuously achieving new milestones in the development of the enterprise. Luo Xiaoli: A more open Chinese market and continuously optimized business environment mean more development opportunities. With the continued promotion of high-level opening-up and international cooperation policies in China, the business environment for foreign-funded enterprises in China has become more convenient and friendly. In addition to policy support, China also provides more opportunities for foreign-funded enterprises to strengthen communication and cooperation with the Chinese government, partners, and customers through activities such as the China Development Forum and various national exhibitions. Taking the CIIE as an example, through this platform, Otis can not only showcase innovative products and concepts, gain more attention from customers and consumers, but also promote deeper cooperation between enterprises and relevant parties, and expand market opportunities. This year, Otis Electromechanical, a brand under Otis, will participate in the exhibition and showcase cutting-edge products in the technical equipment exhibition area. Sima Sheng: Vale has witnessed China's unwavering efforts to promote high-level opening up to the outside world. We truly feel China's concern and support for foreign-funded enterprises, not only listening to our concerns, but also responding promptly and helping to solve problems. For example, the Chinese Ministry of Commerce released the "Statistical Investigation System for Import and Export Reports of Bulk Products" last year, which requires us to add a contract filing and review process when applying for an iron ore import license. The China Chamber of Commerce for Import and Export of Minmetals and Chemicals was commissioned to collect, organize, summarize, analyze, and verify report information for such products. They provided us with guidance and assistance in a timely manner, enabling our business to proceed smoothly. It is precisely this service consciousness and work efficiency that have made China a hot spot for foreign investment and development. Increasing investment in the Chinese market means investing in the future, and more foreign-funded enterprises are continuously releasing new trends of increasing investment in China. A continuously developing and more open China will create new and greater opportunities for world development. Abdulrahman Al Fati: Since entering the Chinese market in the 1980s, Saudi Basic Industries Company has always adhered to sustainable development in China. Last year, we celebrated the 10th anniversary of the establishment of the Shanghai R&D Center, one of the company's major global innovation centers. In the past 10 years, Chinese R&D teams have continuously made technological progress and won multiple international innovation awards. The Saudi Arabian Gulei Ethylene Project is one of the core measures taken by Saudi Basic Industries Company to increase its investment in China. It is another large-scale petrochemical base we have established in Asia and an important achievement of cooperation between Saudi Arabian and Chinese enterprises. As an important participant and witness of the cooperation between the two countries, SABIC will continue to seize the development opportunities of the Chinese market and make contributions to the implementation of the joint construction of the "the Belt and Road" initiative and the "2030 Vision" of Saudi Arabia. Suboke: invested 700 million dollars in Qingdao, Shandong Province to build a production and supply base for inhalation aerosol products, increased 190 million yuan in the production and supply base in Taizhou, Jiangsu Province to build a new diabetes drug production line, announced an investment of 475 million dollars in the construction of a new factory for small molecule innovative drugs in Wuxi, Jiangsu Province, upgraded the global research and development center in China located in Shanghai to one of the five global strategic research and development centers, signed a global licensing cooperation agreement with eight Chinese pharmaceutical companies with a total amount of more than 6 billion dollars, and helped more than 130 Chinese innovative enterprises go global together... Since 2023, AstraZeneca has continued to firmly invest in China, deeply cultivated in China, and made remarkable achievements. In the future, AstraZeneca will continue to increase its investment and cooperation in China, increase China's local innovation layout and R&D investment, and actively promote

Edit：NingChangRun Responsible editor：LiaoXin

Source：People's Daily

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