Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Policies

    Global firms confident in China's growth

    By FAN FEIFEI, MA SI and?OUYANG SHIJIA | chinadaily.com.cn | Updated: 2023-05-14 22:24
    Share
    Share - WeChat
    The city skyline of Chongqing. [Photo/VCG]

    Multinational corporations have voiced optimism and confidence in China's long-term potential for economic growth, despite mounting external uncertainties such as the potential risks of decoupling and supply chains disruptions.

    They also are beefing up efforts to expand their presence in the world's second-largest economy through further investment and localized operations.

    Economists and industry insiders said any intention of decoupling from China is clearly infeasible and against the historical currents, and attempts to do so would hamper the recovery of the world economy, which is suffering from high inflation and downside risks.

    They also highlighted China's economic resilience and pivotal position in global industrial and supply chains.

    Their comments came as Bloomberg quoted anonymous sources as saying that United States President Joe Biden aims to sign an executive order limiting investment by US businesses in key parts of China's economy, around the time of the summit of the Group of Seven advanced economies, which is scheduled to start on Friday in Japan.

    Hideki Ozawa, president and CEO of Canon China, said: "The anti-globalization trend has not affected the development of Canon's business in China or the relationship between Canon and our Chinese partners. On the contrary, China's opening-up remains a significant source of new opportunities for Canon."

    Ozawa said that with the upgrading of China's industries and consumption, domestic demand for overseas high-end manufacturing and high-tech services is growing rapidly, and Canon will seize the opportunity and continue to extend and deepen cooperation with its Chinese partners.

    "The Chinese economy is very resilient, and China is the most important market for Canon. Canon is confident in the Chinese market. … We will establish a more comprehensive supply chain from research and development to production and sales in China, and invest more here," he added.

    Frank Meng, chairman of Qualcomm China, said the company has always been optimistic about the long-term development of the Chinese economy and will continue to increase investment and expand cooperation in China.

    "The number of Qualcomm's employees in China has grown by double digits almost every year since 2018," Meng said.

    In addition, Qualcomm has established joint innovation centers with partners, which is an important part of the company's continuous development in China, he said.

    Data from the Ministry of Commerce showed that foreign direct investment in the Chinese mainland, in terms of actual use, expanded 4.9 percent year-on-year to 408.45 billion yuan ($58.8 billion) in the first quarter of this year. Specifically, FDI in high-tech manufacturing increased 18 percent from the same period a year ago.

    Samson Khaou, executive vice-president of Dassault Systemes Asia-Pacific, said the French industrial software company is highly confident about China's economic growth this year and will continue to invest more in the Chinese market, believing that China's growth will come from both domestic and global demand.

    Charlie Munger, a US billionaire investor and vice-chairman of Berkshire Hathaway, said: "One thing we should do is to get along with China, and we should have a lot of free trade with China. It's in our mutual interest. … Everything that increases the tension between the two … is stupid, stupid and stupid."

    The International Monetary Fund has projected that China's economy will likely expand by 5.2 percent this year, and the country is going to contribute about one-third of global growth this year, which will provide more growth opportunities for other countries.

    "Technological decoupling would impose significant costs on Asian economies — about 5 percent loss in GDP. That's quite a big number. … In general, technological decoupling is very expensive for not just Asia, but for the rest of the world," said Krishna Srinivasan, director of the IMF's Asia and Pacific department.

    Tu Xinquan, dean of the China Institute for WTO Studies at the University of International Business and Economics in Beijing, said Washington's increasingly tightened restrictions will wreak havoc on international economic and trade cooperation, jeopardize global industrial and supply chain safety, and harm the interests of multinational companies around the world.

    Li Xianjun, an associate researcher at the Chinese Academy of Social Sciences' Institute of Industrial Economics, said, "Such attempts aimed at containing the rise of China's high-tech sector will motivate Chinese enterprises to double down on independent innovation and achieve breakthroughs in key technologies."

    For example, China Electronics Corp, the country's largest State-owned comprehensive electronic information enterprise group, has launched China's first open-source desktop operating system platform, openKylin, which marked a breakthrough in bolstering the development of homegrown software operating systems.

    Economist Jeffrey Sachs, director of the Center for Sustainable Development at Columbia University, said a lot of the tension between the US and China arises from the US side.

    "This is the US' mistake, because some Americans think that if China is rising, the US must be losing," Sachs said. "But this is false. Economics is a win-win cooperative game."

    Zhou Lanxu contributed to this story.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    亚洲成AV人片天堂网无码| 精品久久久无码中文字幕| 区三区激情福利综合中文字幕在线一区亚洲视频1 | 亚洲国产午夜中文字幕精品黄网站 | 日韩va中文字幕无码电影| 亚洲AV综合色区无码另类小说| 天堂а√在线中文在线最新版 | 最近高清中文字幕无吗免费看| 人妻无码视频一区二区三区| 欧洲精品无码一区二区三区在线播放| 亚洲日韩中文无码久久| 国产成人无码av片在线观看不卡| 亚洲国产精品无码久久一线| 人妻无码αv中文字幕久久琪琪布| 激情欧美一区二区三区中文字幕| 亚欧无码精品无码有性视频| 国产成人AV一区二区三区无码| 亚洲AV无码国产精品色午友在线| 久久久无码精品亚洲日韩京东传媒| 最近2019中文字幕| 亚洲中文字幕日产乱码高清app| 亚洲AV永久无码一区二区三区| 国模无码一区二区三区| 国产午夜精品无码| 国产精品无码久久综合| 精品亚洲A∨无码一区二区三区| 无码人妻精品一区二区三区在线| 亚洲精品无码成人AAA片| 无码夫の前で人妻を侵犯| 中文字幕无码久久久| 无码不卡av东京热毛片| 无码八A片人妻少妇久久| 成人无码A区在线观看视频| 亚洲成AV人片天堂网无码| 亚洲AV无码精品色午夜在线观看| 亚洲av无码一区二区三区在线播放 | 亚洲欧美日韩中文在线制服| 天堂√中文最新版在线下载| 无码人妻精品中文字幕免费| 欧美激情中文字幕| 无码粉嫩小泬无套在线观看|