China's dynamic expansion opportunities

Editor's note: After the release of China's first-half economic data, China Daily invited chief executives and senior leaders from key multinational companies to share their perspectives on the world's second-largest economy. Their insights go beyond short-term growth, offering a closer look at the evolving "China Opportunity 2.0" narrative amid ongoing debate over the so-called "China Shock 2.0".

Q1 Many multinational companies in recent years continue to expand their investment and operations in China, suggesting that "China Opportunity 2.0" is increasingly offsetting the "China Shock 2.0" narrative. What developments or evidence best demonstrate that China is creating new opportunities for global businesses rather than posing a "shock"?

AVILES: From Dekra's decades-long on-the-ground presence and continuous investment expansion in China, the so-called "China Shock 2.0" narrative is fundamentally misplaced and decoupled from market realities. What we are witnessing is a fully mature, upgraded "China Opportunity 2.0" that delivers structural, long-term value for global enterprises, far outweighing perceived market risks. The most compelling evidence lies in the industry upgrading and high-value industrial ecosystem iteration taking place across the country. China has evolved into a global hub for high-end manufacturing, new energy, intelligent connected vehicles, digital economy and green low-carbon industries. This industrial upgrade has created entirely new service and cooperation tracks for multinational companies.

MUSTO: For Merck, we view China as an innovation powerhouse, not just a market. The evidence for "China Opportunity 2.0" is compelling. An aging population, a rising burden of chronic diseases, and the government's continued investment in and commitment to healthcare are creating real, long-term demand. What gives us particular confidence is the country's growing role in co-developing global innovation, all pointing to a maturing ecosystem that rewards serious, long-term partners. At Merck, we are proud to be exactly that kind of partner. Our dual-engine strategy combines our internal R&D with external innovation partnerships. Our aim is clear: to deliver more medicines to more patients, faster.

TAN: From Skechers' on-the-ground experience in China, we can clearly feel the tangible new market opportunities brought by China's development. Our brand has rooted itself in the Chinese mainland market for nearly two decades, always following the development philosophy of "In China, For China, With China". We keep increasing long-term fixed-asset investment in the country as a concrete response to China's development dividends. We have invested over 4.2 billion yuan ($621 million) to build our exclusive China logistics center in Taicang, Jiangsu province, expanded local R&D and livestreaming operation bases in Dongguan, Guangdong province, and realized localized production for more than 90 percent of products sold in China. Consumption upgrading focused on health and fitness brought by China's domestic demand expansion has created stable growth space for our comfort-oriented sportswear products. All these practical layouts and operational gains prove the real, long-term value of "China Opportunity 2.0" for Skechers.

BAO: From Kone's perspective, one of the clearest signs is that China is not only a major market, but a critical part of Kone's global manufacturing and innovation network. We operate our largest manufacturing facility in China, together with our largest R&D center outside Finland. Today, China is not only serving its domestic market, but also acting as a key export base, with products shipped to more than 100 countries and regions around the world. Equally important, our supply chain is highly localized and deeply integrated into the Chinese ecosystem, with 99 percent of components sourced locally. This enables us to combine global quality standards with local speed, flexibility and resilience. For a multinational company, that reflects a business environment with real industrial depth and operating efficiency.