Last year, the Bosch Group for the first time recorded sales of over 70 billion euros ($77.83 billion), according to preliminary figures.
China is making progress against wasteful government spending as it overhauls a rigid fiscal management system tied to GDP and revenue growth, Finance Minister Lou Jiwei said on Sunday.
Despite a more gloomy outlook on the world economy, global CEOs still think China is the second most important market after the United States, according to a recent survey by PricewaterhouseCoopers.
During the 13th Five-Year Plan (2016-20), China is emphasizing supply-side reform and long-term prosperity brought about by economic restructuring.
Digital payments, big data analytics and public-private partnerships will be key in the collaborative effort of building smart cities, said Ajay Banga, president and CEO of MasterCard.
The head of China's top think tank, the Development Research Center of the State Council, has ruled out the option of massive stimulus measures, saying the largest problem in the economy lies on the supply side.
Editor's note: Li Wei, president of the Development Research Center of the State Council, shared his insights on the current economic challenges China faces and the strategies to overcome them with China Daily reporter Zheng Yangpeng.
Foreign companies, instead of investing in traditional manufacturing industries, such as machinery, steel and automobiles, as they used to, are now concentrating on China's advanced manufacturing and service sectors.
With more than two years of development, the Belt and Road Initiative has proved to be a practical tool for driving the growth of both Chinese and global companies, said business leaders.
The US-based global pharmaceutical Eli Lilly and Co has vowed to launch more new drugs in the coming years through intensified investment in research and development and consistent innovation.
Editor's note:The China Development Forum 2016 is being held in Beijing from Saturday through Monday.
During the 13th Five-Year Plan (2016-20), China is emphasizing supply-side reform and long-term prosperity brought about by economic restructuring.
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