Intel's confidence in Chinese market remains unshaken
By Zhang Xinyuan
The coronavirus pandemic has not shaken the U.S. tech giant Intel's confidence in the Chinese market. Rather, the swift response to the pandemic, the newly-introduced "trillion yuan" infrastructure project and a better business environment to foreign businesses after the launch of the new foreign investment law have encouraged and prompted the multinational company to further boost its investment in the country, according to Intel's China head.
In an exclusive interview with CGTN, Ian Yang, Corporate Vice President and President of Intel China, shares his views on China's new foreign investment law, the level of confidence Intel has in China's market, and whether Intel finds it appealing to restructure its supply chain away from China like many alarmists suggested.
The following are excerpts from the interview.
CGTN: What's your take on China's new foreign investment law?
Ian Yang: The foreign investment law provides legal protection for China's new round of high-level opening up and enhances foreign company's confidence in the long-term development of China.
It's very encouraging to see the new foreign investment law as a foreign company. I think we can expect a lot of the services will be improved and the government will go from just approving investments to actually serving the foreign companies. It gives us the confidence to invest in a very attractive, large market like China.
CGTN: Are you still confident in Chinese economy and Intel's development in China?
Yang: Overall, we are very confident given the current environment and demand for high-tech products, especially for products that Intel and our industry provides in the era of a digital economy.
China is already the world number two economy, probably will become the number one. The Chinese economy has been very strong. I think it gave our high tech industry a lot of confidence.
As the coronavirus spread around China, the crisis management by various levels of the government of China was really impressive. The citizens of China really responded very well. That really helped prevent the virus from further spreading.
So these kind of risk management mitigation strategies or implementation measures have given us a lot of confidence. We are looking for longer term opportunities in China.
CGTN: The U.S. government has been urging tech companies to move the supply chain out of China. What's Intel's position on this issue?
Yang: It's very important to not be confused by short-term challenges Companies should look at the Chinese market strategically. We are a global company, 80 percent of our businesses are actually outside of the U.S., from both a consumption standpoint as well as a manufacturing supply chain standpoint.
The best way to mitigate any type of risks is to make sure that you continue to innovate the leadership product, that you can fulfill the worldwide global needs, and you have the supply chain, globally, that can supply customers around the world.