BEIJING: Fuelled by diverse application scenarios and strong innovation momentum, China has emerged as a prime destination for foreign investment.
This has been underpinned by broad strategic advantages amid profound shifts in the global economic landscape, said heads of foreign corporations.
Highlighting that the country has become a key hub for business model experimentation and technological innovation, they said China would remain a priority market for future foreign investment.
They noted that would be particularly so in areas such as electrification, digital transformation, green development and trade-in services.
According to a report on foreign firms released by the Beijing-based Chinese Academy of International Trade and Economic Cooperation in mid-June, these enterprises continue to increase their investment in China’s high-tech manufacturing sector this year.
The strategic layout of future cutting-edge industries by foreign businesses in China not only brings capital and technology, but also promotes China’s industrial leap through industrial chain reshaping, international resource coordination and localised innovation, said the report.
One such company is French industrial conglomerate Schneider Electric.
The group, backed by its China artificial intelligence (AI) innovation labs, has been actively promoting the integration of AI technologies with application scenarios across industries such as manufacturing, building, infrastructure and data centres.
Yin Zheng, executive vice-president of China and East Asia operations at Schneider Electric, said that as a key driver of global economic growth, China boasts a vast market and a solid industrial foundation.
The development of new quality productive forces is speeding up the creation of innovation-driven digital and green productivity, offering broader development opportunities for multinational corporations in the field of high-tech sectors, said Yin.
“For the next step, we will continue to build digital, green and global ecosystems to empower small and medium-sized enterprises to innovate and help Chinese companies expand into international markets,” he added. — China Daily/ANN
