Global executives ‘heartened’ by vision in key speech

Global business executives have hailed China’s new moves and visions outlined by President Xi Jinping’s keynote speech at the opening ceremony of the first China International Import Expo in Shanghai on Monday.

Xi underscored the role of economic globalization in his speech, saying the expo is a major policy for China to push for a new round of highlevel opening-up and a major measure allowing the country to take the initiative in opening its market to the world.

“I was heartened to hear President Xi’s speech. His messages on the deepening of China’s reform and openingup, promoting trade liberalization and optimizing the business environment certainly give us great confidence in continuing to grow our business in China,” said Vladimir Makatsaria, chairman of Johnson & Johnson China.

Makatsaria said the first expo is a high-level event that highlights these opportunities and a forum for the Chinese government to demonstrate its commitment to trade liberalization.

Lothar Herrmann, CEO of Siemens China and a member of the Advisory Council of the European Union Chamber of Commerce in China, said: “CIIE is a great platform that marks 40 years of reform and opening-up. I echo President Xi who pointed out that countries should focus on innovation to drive economic growth by grasping opportunities generated from new technological revolutions such as digitalization and artificial intelligence.”

Eager to enhance its sales revenue, Herrmann said Siemens will continue to contribute to a complete portfolio of electrification, automation and digitalization to create value for its customers and partners.

Denis Depoux, China CEO of global consultancy Roland Berger, said the president’s speech was much awaited by the international community, especially coming at a time when protectionism is on the rise.

“In that respect, we are reassured by President Xi’s strong voice that the opening-up policy will be reinforced and strengthened. After Davos and Boao, this is another pledge to international trade, and the associated multilateral rules,” he said.

President Xi also announced on Monday that China’s imported goods and services are expected to exceed $30 trillion and $10 trillion, respectively, over the next 15 years. China has been the world’s second-largest merchandise importer for nine consecutive years.

Christian Hartel, a member of the executive board of Germany’s Wacker Chemie AG, said: “We will surely benefit from the increasing consumption power in China. And we will continue our investment in expanding production capacity in China, especially in areas such as electronics, automobiles, pharmaceuticals, and household and personal-care products.”

This year also marks the 40th anniversary of the ChinaJapan Treaty of Peace and Friendship. Toshihiro Ueda, chief representative for China of AGC Co, a Tokyo-based manufacturer of glass, electronics, chemicals and industrial ceramics, said the bilateral relationship of the two countries is on the right track, with reform and opening-up entering a new phase.

“President Xi’s speech on further opening-up has really boosted our morale. China has turned from a global manufacturing powerhouse into an international open market. With it being more open, China will gradually become the hub of innovation,” he said.