For­eign com­pa­nies re­main op­ti­mistic on China market

Global Times US Edition - - BIZIN J -

Despite in­ter­na­tional eco­nomic un­cer­tain­ties, China has main­tained sta­ble eco­nomic growth and the Chi­nese market re­mains the fa­vorite for many for­eign firms.

A group of cor­po­rate gi­ants’ lead­ers gathered in Bei­jing over the week­end to dis­cuss busi­ness prospects and voice their con­fi­dence in China for its po­si­tion as an ir­re­place­able market and beyond.

“For us, China’s not sim­ply a large-scale con­sumer market, but also an im­por­tant source of in­no­va­tion as well as a ma­jor el­e­ment of the in­dus­trial value chain,” said Jochen Goller, president & CEO of BMW Group Re­gion China, dur­ing a spe­cial ses­sion of the China De­vel­op­ment Fo­rum which con­cluded Satur­day in Bei­jing.

In the first seven months of this year, BMW saw car sales up 16.6 per­cent year-on-year to some 404,000 units in the highly-com­pet­i­tive Chi­nese market.

“This strong per­for­mance is re­in­forc­ing our con­fi­dence to further grow with China, and as a re­sult, BMW is taking de­ci­sive ac­tions to significan­tly in­crease our in­vest­ment as well as en­large our foot­print,” Goller said.

The moves in­clude fully upgrading re­search and de­vel­op­ment bases in China and en­hanc­ing co­op­er­a­tion with lo­cal en­ter­prises such as China Uni­com and Ten­cent in au­tonomous, con­nected, elec­tri­fied and shared ar­eas to bet­ter embrace the global auto industry’s ma­jor trans­for­ma­tion, he said.

“Our com­mit­ment is con­stantly evolv­ing, from Pro­duc­tion in China to Cre­ate in China,” Goller said. “The de­vel­op­ment of BMW is an ex­cel­lent show­case of how an open econ­omy can ben­e­fit all stake­hold­ers.”

“More in­vest­ment,” “deeper in­te­gra­tion” and “more lo­cal­iza­tion” were fre­quently ex­pressed by ex­ec­u­tives from for­eign firms when de­scrib­ing their de­vel­op­ment plans in China at the ses­sion, which was themed “Trade, open­ness and shared pros­per­ity.” Gov­ern­ment of­fi­cials and renowned schol­ars at­tended the event.

Pas­cal So­riot, CEO of phar­ma­ceu­ti­cal multi­na­tional As­trazeneca, said the com­pany now ex­ports medicines to 80 coun­tries and re­gions from China and is build­ing an in­ter­na­tional life sci­ence in­no­va­tion park in

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