Foreign business leaders reaffirm China as oasis of certainty

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(Xinhua) 08:02, March 31, 2025

BEIJING, March 30 (Xinhua) -- In a world haunted by growing protectionism, China has continuously expanded opening up, injecting stability into the global economy, and has become an oasis of certainty and a hot spot for investment and entrepreneurship.

This is the belief shared by more than 40 representatives of the international business community who met here on Friday with Chinese President Xi Jinping.

From the China Development Forum 2025 in Beijing to the Boao Forum for Asia Annual Conference 2025 in south China's Hainan Province, foreign executives have reaffirmed their commitment to China as a key market for investment and collaboration. They noted China's complete industrial system, rich application scenarios, vast market scale and large talent pool, which combine to offer extensive collaboration opportunities for international industrial and technological innovation.

Participants attend the China Development Forum 2025 in Beijing, capital of China, March 23, 2025. (Xinhua/Li Xin)

INVESTING IN CHINA, INVESTING IN FUTURE

China's reform and opening up continue to draw global attention. Riding the wave created by China's high-level opening-up endeavors, foreign companies are leveraging the advantages of the world's second-largest economy and participating in its innovation pursuit, aiming at win-win cooperation.

"We have been very proud to play a role in China's development, enabling and connecting China to the world," said Sean Stein, president of the U.S.-China Business Council, adding that China has grown into the world's second-largest consumer market, presenting vast opportunities for multinational operators to invest and expand their businesses.

Foreign business operations and investments in China have driven economic growth and employment, boosted technological and managerial progress, and facilitated reform and opening up. In this process, foreign businesses have thrived and generally enjoyed handsome returns, achieved win-win results, and forged profound friendship with the Chinese people.

In 2024, a total of 59,080 new foreign-invested enterprises were established in China, up 9.9 percent year on year. Over the past five years, the return rate of foreign direct investment in the country has remained at approximately 9 percent, ranking among the highest in the world.

"We invest in infrastructure that supports domestic consumption. A prosperous Chinese consumer is good for our business," said Hamid R. Moghadam, chairman and CEO of Prologis.

"We are more than 30 years now in China, and we have several production hubs. For us, it's a very large market. China also is a very attractive market with a lot of opportunities today, in the past, but also in the future -- and that's why we're here," said Christian Hartel, president &CEO of Wacker Chemie AG.

"So we keep investing, and we have very great people here on the ground in China, who are very innovative. We develop and produce products for the Chinese market, and also feel very positive for the outlook in the future," he added.

Merchants visit the "Invest in China" area of the 24th China International Fair for Investment and Trade in Xiamen, southeast China's Fujian Province, Sept. 8, 2024. (Xinhua/Lin Shanchuan)

ALL EYES ON NEW QUALITY PRODUCTIVE FORCES

Foreign investment plays a significant role in fostering new quality productive forces, and China supports the participation of foreign enterprises in its new industrialization, with a focus on high-tech fields, according to an action plan to stabilize foreign investment in 2025, which was approved by a State Council executive meeting in February.

The nation's emphasis on innovation as a driver for high-quality growth resonated strongly with the foreign business representatives.

They said that from "Made in China" to "new quality productive forces," China has empowered industrial transformation and upgrading through innovation, and is set to realize higher-quality and more sustainable development. These foreign business representatives have reached the consensus that the outlook of the Chinese economy is strong.

"Today there are multiple signs of investment on optimism," said Jean-Pascal Tricoire, chairman of Schneider Electric, adding that China's promotion of green development aligns with Schneider's goal of pursuing sustainability, instilling confidence in enterprises to advance investment, research and development in China.

This photo taken on Nov. 9, 2024 shows the booth of Schneider Electric during the 7th China International Import Expo in east China's Shanghai. (Xinhua/Wang Xiang)