Foreign businesses, chambers see more opportunities in green development, tech innovations
Published: Mar 12, 2023 06:47 PM
A view of Shanghai's Lujiazui financial district Photo: VCG

A view of Shanghai's Lujiazui financial district Photo: VCG

Foreign companies and trade chambers interviewed by the Global Times said they are optimistic about their business opportunities in China, as officials at the two sessions reiterate efforts to attract and utilize foreign investment, especially in the fields of green development and technological innovation.

"I am very confident in the strong growth potential of the Chinese market and we are seeking another decade of glory in China," Audi AG CEO Markus Duesmann, said in a roundtable with the media on Friday. Duesmann was in Changchun, Northeast China's Jilin Province, on Thursday.
"My visit to China is to strengthen my ties with Chinese partners," he told the Global Times. "You have to experience the market in person, and then you will know its uniqueness."

Audi has kicked off construction of its first electric vehicle plant in Changchun, an important foundation for expansion of the local e-product portfolio, and it is building a new production plant for all-electric Audi models based on the PPE (Premiun Platform Electric) platform.

With an investment of 2.6 billion euros ($2.77 billion), the plant, to be completed in 2024, is designed to produce more than 150,000 vehicles a year based on the PPE platform that Audi has developed with Porsche.

"The Audi FAW NEV plant shows Audi's commitment to China. Only with determination and speed can we create miracles," Duesmann added.

"We will continue to strengthen local research and development to further speed up its response to the Chinese market in the future, and we will continue to join hands with local partners to lay the foundation for our further development," Duesmann said. 
The Government Work Report delivered to the NPC pledges China will accelerate efforts to utilize foreign investment, and Chinese experts said those companies with ambitions in manufacturing upgrading will see more opportunities in China.

"Despite the challenges that exist, we see great potential for British companies here in China in a wide range of areas including green development, technological innovation and healthcare. These are also areas of particular strength for British businesses and align with China's focus on sustainability, quality and sustainable development," the British Chamber of Commerce in China told the Global Times.

China's policy focus should be given to high-tech industries, especially to technological innovations. "European companies could help in this area, as they can bring much-needed competition if provided with an open market and level playing field," read an e-mail sent to the Global Times by the European Chamber.

"Those companies with ambitions in  manufacturing upgrading and exploring the consumption market will see more opportunities in China," Bai Ming, a research fellow at the Chinese Academy of International Trade and Economic Cooperation in Beijing, told the Global Times.

According to Bai, companies with plants in China will enjoy more advantages of localization. Bai's view was echoed by consultancy Roland Berger, as the company surveyed leaders of some European multinational companies in China in January.

"We received a clear message from several interviews in January with leaders of European Multinational companies in China that China remained as a significant market for foreign companies, and the China market has gradually become an important source of innovation to strengthen global competency of some foreign companies," Denis Depoux, global managing director of Roland Berger, told the Global Times. 

China also adopted proactive and effective moves to utilize foreign investment. The regulations for implementing the Foreign Investment Law were issued, further improving the business environment for foreign investors. Market access for foreign investment was steadily expanded. Items on the negative lists for foreign investment have been constantly reduced.