China is slashing subsidies on new energy vehicles and requiring local authorities to invest in charging infrastructure as part of its efforts to boost the competitiveness of local manufacturers in the world's largest automotive market.
Global brands and marketers see great marketing potential in China with its fast-growing middle-income group and booming number of internet users, marketing professionals said at a gathering held on Tuesday in New York.
China is seeking global partnerships and innovative methods to plug the financing gaps for countries and regions participating in the Belt and Road Initiative to boost infrastructure construction for sustainable development.
China's cross-border e-commerce is driving small and medium-sized enterprises to participate in international trade and investment, which will add strong impetus to globalization despite rising anti-globalization sentiments overseas, experts and business leaders said.
China will continuously amend the negative list regarding foreign investment in the country and improve the mechanisms through which global investors can express their complaints to facilitate the implementation of the newly passed Foreign Investment Law, said a senior commerce official.
The era of the rapid growth of the entire property industry has ended in China and future development should be based on consolidating fundamentals, according to China Vanke Co, one of China's largest property developers.
With green growth gaining traction in China, Swedish manufacturing giant Volvo Group sees big opportunities from the country's efforts to embrace environmentally friendly transportation technologies and services.
Sabic, the Middle East's largest petrochemicals company, will continue investing in the Chinese market with a new polycarbonate plant in Tianjin in the process of construction, through Sinopec Sabic Tianjin Petrochemical Co Ltd, a 50-50 joint venture with State-owned oil giant China Petroleum and Chemical Corp or Sinopec, the world's largest refiner.
Four Nobel Prize-winning economists called for strengthening the rules-based system of international trade recently. They also argued that fundamental changes in the World Trade Organization are needed to deal with large changes in the world economy over the past 25 years.
Editor's Note: The Government Work Report released on March 5 has charted a course for China's economic development for this year. By setting fairly robust growth targets, the country is set to be the locomotive pulling the world economy amid global economic headwinds. A number of pro-growth efforts have been unveiled to spur innovation and continue opening-up. The country has also released the Foreign Investment Law to better protect the rights of foreign businesses in China. China Daily polled senior executives from multinational corporations to understand their positioning, perception and predictions of the Chinese market.
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Raymond Zhou
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