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.
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.
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.
