China's contribution vital to global economy: Scholar

China is central to the global economy, not just as a manufacturing hub, but as a source of innovation, capital and demand. Global companies should approach China with strategic clarity, focusing on sectors such as green technologies, advanced manufacturing and high-value services, said Sergei Guriev, dean of London Business School.

During an exclusive interview with China Daily, Guriev pointed out that the global context has been changing, with heightened geopolitical fragmentation, accelerated global aging, climate change, supply chain diversification and technological competition.

"Looking ahead, China is likely to deepen regional and Global South integration through trade, infrastructure and finance," he said.

Amid increasing global uncertainties, Guriev noted that China's recently unveiled 15th Five-Year Plan (2026-30) is anchored by an expanded notion of "security" as an economic principle, encompassing supply chain resilience, energy independence and technological self-reliance.

The plan reinforces a shift toward innovation-led growth, with sustained emphasis on AI and robotics, quantum computing, biotech and next-generation industrial systems. Also, the green transition sector can be seen as a central growth pillar, with accelerated investment in renewable energy, electric vehicles and low-carbon infrastructure, including batteries, he said.

In the large and dynamic Chinese market that requires sharper prioritization, Guriev advised that global companies should approach China with strategic clarity, rather than blanket optimism or retreat, and need to localize more deeply in operations, partnerships and innovation models.

Guriev highlighted that sectors combining technological upgrading, domestic demand and policy support are where the most durable opportunities are likely to emerge in China.

Among the diverse booming fields are green technologies at the forefront, driven by China's long-term decarbonization goals, including renewables, electric vehicles, energy storage and carbon management. As the nation pushes up the value chain, he also expects further growth in advanced manufacturing sectors, particularly in semiconductors, robotics and high-end equipment.

High-value services

Guriev indicated expanding opportunities in high-value services, such as healthcare, elder care, financial services and education-related segments, reflecting demographic change and a rising demand for quality.

Besides, he added that the digital economy would remain a key and intrinsic engine, especially in AI applications and industrial digitization, even as regulations become more widely adopted and structured.

"AI has rapidly evolved from experimentation to critical infrastructure. The key trend is not just better or faster models, but widespread deployment; embedding AI into the heart of business processes, from operations and supply chains to customer engagement and decision-making," Guriev explained.

As one of the world's top business schools, London Business School regards China as "a vital part" of its global community. It has a longstanding relationship with China, built through its alumni community, research collaboration and partnerships with leading Chinese universities, including Tsinghua University in Beijing and Fudan University in Shanghai.

With tailored programs, the school has been expanding opportunities for senior Chinese executives to engage with global peers and increasing student exchange flows that enrich the classroom experience on both sides. Collaboration has grown around areas of shared relevance such as innovation, digital transformation and sustainable business, bringing together perspectives from China and the global economy.

"Most importantly, these partnerships are not static. They are evolving to reflect a more complex global environment, with a stronger emphasis on leadership and cross-border capabilities," he added.

wangxin2@chinadaily.com.cn