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multinational corporations in china: riding on the peak and moving towards innovation

2024-08-31

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"look, the t-shirt i'm wearing today is made of 14 discarded plastic bottles, which come from the automatic bottle return machine developed and produced by tomra in china." on august 29, during the 5th qingdao summit of multinational corporation leaders, chang xinjie, vice president of public affairs of tomra asia, pointed to his clothes and smiled when he was interviewed by the international business daily reporter. "this is a vivid practice of our integration into china's green transformation and development. the accelerated formation of china's new quality productivity has brought broad cooperation space for multinational companies. i believe that tomra will have more opportunities for win-win cooperation in the field of green, environmental protection and low carbon in the future."

china is accelerating the development of new productivity, which has given the world new opportunities for cooperation. at this summit, this "new" wind was blowing, with more than 550 representatives from 451 multinational companies attending the summit, including 99 multinational companies attending the summit for the first time, covering the fields of new generation information technology, biomedicine, new energy, high-end equipment, circular economy, etc. facing the chinese market, chinese opportunities and chinese confidence, leaders of multinational companies and chinese government and business leaders have enthusiastically communicated and deepened cooperation, and jointly wrote a new chapter of win-win cooperation.

developing new quality productivity brings new opportunities

at this summit, many “old friends” arrived as scheduled, and each time they attended the summit, they had new feelings and new gains.

"china's manufacturing industry has an extremely high status in the world!" yu feng, president of honeywell china, was deeply impressed by the development of china's new quality productivity. "on the one hand, china is the world's leading manufacturing country and the only country in the world that has all the industrial categories listed in the united nations industrial classification; on the other hand, china's advanced technologies and products, including high-speed rail and new energy products, are also in a leading position in the world. in addition, china's emerging industries are continuously improving, especially the new energy industry related to sustainable development, and the shipbuilding industry related to the marine economy."

against the backdrop of china's continued advancement of the "dual carbon" goals and the high-end, intelligent and green development of the digital economy and manufacturing industry, multinational companies in china are facing new development opportunities.

yu feng said that at the beginning of this year, honeywell adjusted its business segments, committed to combining the three major business development trends of automation, future aviation and energy transformation with the development needs of the chinese market and enterprises, promoting influential local innovations, and making layouts in key areas such as energy transformation, industrial automation, smart buildings, and future aviation.

secco industries of the united states has also deeply felt the new opportunities contained in china's accelerated development of new quality productivity, and has actively cooperated with local industrial chains and supply chains for win-win results. chen chao, general manager of secco industries asia pacific, told reporters that in 2020, secco weihai manufacturing base officially started operation. this is the group's only manufacturing and after-sales service base in the asia-pacific region, and it is also the group's first gold-level factory in operation and management, which reflects secco industries' high attention to the chinese market.

chen chao said that focusing on new quality productivity, secco industry will deepen its presence in the chinese market from three aspects: targeting the demand for high value-added ship equipment, deepening local collaboration and helping industrial upgrading; seizing the major trends and new applications of energy transformation, accelerating new product development, and serving the dual carbon goals; at the same time, accelerating the construction of digital factories and intelligent operations to build high-end manufacturing capabilities.

for shandong, the qingdao summit is also an important window to witness shandong's opening up to the outside world and market vitality. as a local enterprise in shandong, demai international industrial group is increasing its investment in industrial printers and sodium-ion battery industries. "at present, the promotion of chinese-style modernization has brought broad cooperation opportunities for multinational companies. the number and quality of applicants for this summit fully demonstrate the expectations of multinational companies for china. they are very clear that 'where the market is, the company will go'." shi qianping, chairman of demai international industrial group, said, "take intelligent manufacturing as an example. the industrial printers of demai international information industry park have reached global leadership in the market segment. some fortune 500 companies have also entrusted their research and development and production to demai. this is the embodiment of shandong's new quality productivity. we look forward to continuing to write a wonderful story of win-win cooperation with more multinational companies with the help of the summit."

high-level opening-up makes investment in china more resolute

in the interviews, leaders of multinational corporations all mentioned that china's continued high-level opening-up and increasingly optimized business environment have made them more determined to invest in and develop china.

"we have noticed that the chinese government has recently issued the opinions on accelerating the comprehensive green transformation of economic and social development, as well as policies to promote large-scale equipment renewal and the replacement of old consumer goods with new ones, which will provide more cooperation opportunities for tomra group." chang xinjie said that with the increasing requirements in areas such as waste classification and food safety, tomra is very optimistic about the market potential in china. after the opening of the new headquarters building in china located in xiamen torch high-tech zone last year, tomra group will increase its investment in tomra environmental protection through equity transactions this year, and continue to increase its r&d investment in new products to help china's economic and social transformation towards green development.

in chen chao's view, facing the complex external environment, the chinese government has proposed to "perfect the high-level opening-up system" and clearly stated that it will completely remove restrictions on foreign investment access in the manufacturing sector. "these measures are very timely and necessary, and will provide more opportunities for foreign-funded enterprises including secco industries."

chen chao feels the same about the improvement of china's business environment: "in the chinese market, the development of enterprises cannot be separated from the support and guidance of the government. every step of the development of secco weihai manufacturing base has been strongly supported by the weihai municipal government and the economic development zone. this year, government departments have actively helped us find opportunities in the fields of sewage treatment and new energy. these all reflect the government's sincere service and support for foreign-funded enterprises. concept and practical actions."

"even in a complex global economic environment, the chinese market still shows great appeal." wang junjie, director of cbre north china strategic advisory department, said that in recent years, china's innovative policies on foreign investment have shown the characteristics of strong openness and high level of internationalization, demonstrating the country's determination to expand its opening up. "we also feel the enthusiasm of more and more multinational companies from different industries to invest in china. cbre will continue to play a bridging role and actively support foreign-funded enterprises to invest in china. by providing comprehensive investment services, we will help companies seize new opportunities in the chinese market and achieve long-term growth."

■ our reporter bai shujie

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