The skyline of Lujiazui in Shanghai Photo: CFP

Apple CEO Tim Cook has been in Shanghai for another visit to China, declaring on Wednesday that "there is no place more important than China" for the US tech giant's supply chain. Cook is among a long list of global business executives who are expected to visit China in the coming days for two major forums, demonstrating the great importance that multinationals attach to the Chinese market.

Following the two sessions, where attracting foreign investment was prioritized, China has also moved swiftly in recent days to take concrete steps to further expand market access and optimize the business environment. 

China's continued opening-up and its steady economic recovery mean greater opportunities for global businesses, and China will remain one of the most popular destinations for investors, experts noted.

On Wednesday morning, Cook posted a video of himself walking and eating with Chinese actor Zheng Kai in Shanghai on his Sina Weibo account, drawing millions of views. A related topic of Cook meeting Zheng drew more than more than 30.95 million views on Weibo, underscoring the popularity of Cook in China. The Apple CEO, who has visited China at least three times since last March, also talked about China's crucial role for Apple.

"For Apple's supply chain, I think there is no place more important than China," Cook was quoted by news portal thepaper.cn as saying in a Chinese-language report. Cook, who also met with various individuals like BYD Chairman Wang Chuanfu, said that Apple has been expanding its supply chain in China and increasing investment over the past three decades.

Cook's visit comes as Apple is scheduled to officially open a new store in Shanghai's Jing'an district on Thursday. Cook is also expected to attend the China Development Forum (CDF), which is expected to kick off on Sunday in Beijing, the Wall Street Journal (WSJ) reported.

Screenshot of Tim Cook's post of Sina Weibo

The CDF, an annual high-level event hosted by the Development Research Center of the State Council, China's cabinet, usually draws many global executives. Apart from Cook, Cristiano Amon of Qualcomm, Albert Bourla of Pfizer and Stephen Schwarzman of Blackstone, as well as Bridgewater Associates founder Ray Dalio, are expected to attend this year's CDF, according to the WSJ.

Shortly after the CDF, the Boao Forum for Asia will convene its annual conference in Boao, South China's Hainan Province from March 26 to 29, with many business executives from the Asia-Pacific region and beyond expected to attend.

"Through the two events, China will show the world that China's economy remains sound, stable and resilient, and has vast potential, a business-friendly environment and a predictable outlook," Li Yong, a senior research fellow at the China Association of International Trade, told the Global Times on Wednesday, noting that China has taken a slew of measures to further open up its market for foreign businesses. 

The Government Work Report approved during the two sessions outlined efforts to attract foreign investment, including lifting all market access restrictions on foreign investment in manufacturing. Then on Tuesday, the State Council issued a 24-point action plan to attract foreign investment.

At a press conference on Wednesday, officials from the National Development and Reform Commission (NDRC), China's top economic planner, said that the agency has launched the revision of the catalog of industries that encourage foreign investment, as part of the country's intensifying efforts to attract foreign investment.

NDRC officials also addressed concerns over a slight drop in foreign direct investment (FDI) last year, noting that FDI into China maintained a relatively good trend compared with a significant drop in global cross-border investment, and foreign investment in high-tech sectors continued to rise. 

"For multinational companies, walking with China is walking with opportunities, and investing in China is investing in the future," Wu Hao, an NDRC official, said at the press conference on Wednesday. 

Wang Jun, an expert at the China Center for International Economic Exchanges in Beijing, said that while China has seen a slowdown in FDI, the country has three major advantages in attracting foreign investment - a vast market, complete industry and supply chains, and favorable policies.

"As long as China maintains the consistency of its macroeconomic policies and maintains steady economic growth… then it would be an opportunity for foreign companies," Wang told the Global Times on Wednesday. 

Many global businesses are seeing great opportunities in China and increasing investment in the Chinese market. 

Nancy Wang, country manager of LinkedIn China, said that the global career platform has remarkable achievements in the Chinese market, as it has built close cooperation ties with thousands of Chinese enterprises.

"LinkedIn will continue to increase its investment in China, making full use of our unique advantages in connecting the world's top talent and career opportunities, as well as first-hand data insights, to provide Chinese companies with exclusive insights and the most comprehensive solutions to connect with and attract top global talent," Wang told the Global Times on Wednesday.