Per editor: Bi Lu Ming
According to the Global Times on February 13, citing the Wall Street Journal on the 12th, Volkswagen executives visited China at the end of January and early February, Mercedes-Benz management also has plans to visit China in recent days, and the CEOs of Apple and Pfizer also plan to visit China next month. For many executives, this will be their first visit to China since the coronavirus outbreak.
Multinational executives are returning to China
According to a comprehensive report by the Global Times on February 13, a number of foreign media noticed that as China reopens, senior managers of multinational companies are returning to China one after another. The Wall Street Journal reported on the 12th that Volkswagen executives visited China at the end of January and early February, Mercedes-Benz management also recently planned to visit China, and the CEOs of Apple and Pfizer also plan to visit China next month.
Apple CEO Tim Cook. Image source: Visual China
For some executives, field visits to local operations and meeting with managers are a priority, while many more prefer to meet local business partners and government officials, according to the Wall Street Journal. The report also said that dozens of executives are expected to attend various business meetings in China in the coming months. Earlier, German media has revealed that a number of CEOs of automobile companies plan to visit China, and some middle-level employees have also been asked by companies to go to China for business learning.
A number of business meetings in China in the coming months are also expected to attract senior executives from multinational companies, including the China Development Forum, the annual global economic conference hosted by the Chinese government and scheduled for late March, and the Boao Forum for Asia in Hainan, a government-backed gathering of business and political leaders modeled after the World Economic Forum in Davos. According to Wall Street News, people familiar with the matter revealed that executives who are considering participating in the China Development Forum include Apple CEO Tim Cook and Pfizer CEO Bourla, the former who served as co-chair of the China Development Forum.
Meanwhile, fairs such as the Boao Forum and the Shanghai International Automobile Industry Exhibition will attract other top global business leaders, including Andrew Forrest, founder and chairman of Australia's Forteske Metals Group, who has previously said the company is committed to building good relationships with Chinese customers.
NDRC and other departments: facilitate the exchange of international business personnel
On October 25, 2022, the National Development and Reform Commission and other departments issued Several Policies and Measures on Promoting the Expansion of Foreign Investment with a Focus on the Manufacturing Industry, Stabilizing Stock and Improving Quality (hereinafter referred to as the "Policy Measures"). The Policy Measures mention facilitating the flow of international business personnel. Under the premise of doing a good job in the prevention and control of the new crown pneumonia epidemic, facilitate the entry and exit of senior executives, technical personnel and their families of multinational companies, foreign-invested enterprises. All localities should make good use of the "fast channel" for Chinese and foreign personnel exchanges, combine local conditions, further clarify standards and procedures, and provide convenience for foreigners to come to China.
According to the Ministry of Commerce earlier, despite the impact of adverse factors such as the new crown epidemic, the slowdown in global economic growth and the rise of investment protectionism, the mainland achieved stable growth in absorbing foreign investment, exceeding 1.2 trillion yuan for the first time, a year-on-year increase of 6.3% on a comparable basis. The scale has reached a record high again and remains at the forefront of the world.
"This proves once again that China is still a hot spot for foreign investment." Vice Minister of Commerce Guo Tingting said that in 2022, the Chinese market will absorb foreign investment in both quantity and quality. The investment structure continues to be optimized, and the driving role of large projects is enhanced. Investment from major foreign sources such as Germany, South Korea and the United Kingdom increased by 52.9%, 64.2% and 40.7% respectively.
Image source: Xinhua News Agency
Recently, a number of international organizations have raised their forecasts for China's economic growth this year. "Economic growth means investment opportunities. China's economy is resilient, full of potential and vitality, and its long-term good fundamentals have not changed. Meng Huating, head of the Foreign Investment Management Department of the Ministry of Commerce, said.
According to the survey results released by the China Council for the Promotion of International Trade, 99.4% of the surveyed foreign-funded enterprises are more confident in China's economic development prospects in 2023, and 98.7% of the surveyed foreign-funded enterprises said that they will maintain and expand their investment in China.
According to the statistics and analysis of the Ministry of Commerce, more than ninety percent of foreign-funded enterprises in China are mainly oriented to the Chinese market, with a population of more than 1.4 billion, it is the world's second largest consumer market. "A more open China continues to provide new opportunities for the world with its new development." Long Guoqiang, deputy director of the Development Research Center of the State Council, said.
Daily Economic News Comprehensive Commerce Department, Global Times, Wall Street News
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