Economy
Global investors covet China's rising market
(Xinhua)
Updated: 2010-04-12 09:55
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Green Growth Opportunities
The bullish outlook came on strong growth in China's consumption as the country is committed to boosting domestic demand to transform the pattern of economic growth.
The move also offers investment opportunities to foreign green businesses. China will soon release new regulations on attracting overseas green investment, Zhang Xiaoqiang, deputy minister of the National Development and Reform Commission, said Saturday.
In addition, China's cabinet has launched an initiative to better develop ten new industries including clean energy, new resources, new-energy cars, and information technology.
Danfoss, a Danish engineering group long committed to energy saving and pollution reduction, launched a new plant in north China's Tianjin City two days before the forum opened on Saturday.
The mechanical and electronic components maker has said its sales in China amounted to 3 billion yuan (US$440 million), making the country its third-largest market.
The green growth drive is making China more important to multinational cooperations for global expansion as more set up research and development (R&D) centers and regional headquarters in the country.
By the end of 2009, the transnational corporations had set up 1,200 R&D centers in China, according to the Ministry of Commerce.
Zhang Yaqin, a vice president of Microsoft Corporation, said foreign businesses investing in China set up only production centers when they first entered into the country.
Step by step, they opened marketing centers and R&D centers. Now China has risen to be a strategic development center for many multinational companies, Zhang said.
"Microsoft China has become another strategic headquarters besides its global headquarters in the US," said Zhang. "We regarded China as the largest market outside the US.".
