Beijing to hold first foreign business conference

Sang Baichuan, professor with University of International Business and Economics, said foreign companies operating in China should adjust their strategies, as environment both at home and abroad has undergone profound changes. 

"China has shifted from high-speed growth to high-quality development. So foreign businesses should also change its expansion plan that highlights only 'quantity' to emphasizes both 'quantity and quality'," Sang said.

He added that foreign investment should avoid creating excess capacity in China, as the country's economic structure has been changing and competition intensifying.