For industrial success, China must design new engines

The policies adopted by China in April, from cooperation in the high-tech sector to further opening up the financial market and considering giving the green light to the gaming industry, can prove beneficial to foreign businesses.

Liu He, chief of the General Office of the Leading Group for Financial and Economic Affairs, announced at the World Economic Forum in January that China will take bold measures to further open up the economy to the outside world this year - which marks the 40th anniversary of reform and opening-up.

To some extent, the importance of the policies adopted by China last month goes beyond expectations and has rarely been seen in other economies before. These policies are something foreign investors and businesses operating in China (or looking at the Chinese market for business) could not afford to ignore.