Win with China: China acts as a defender of globalization
By CGTN’s Ge Yunfei and Dai Piaoyi
At the 2017 Fortune Global Forum, some of the most experienced global business leaders and think tank members shared their views on China's stances.
Foreign firms were restricted to the shares they can have in many industries, such as finance, mutual fund, and insurance. But the Chinese government has promised to lift foreign investment restrictions in its future market.
Joe Ngai, managing partner of Mckinsey & Company in Greater China. /CGTN Photo
“It gives a lot people a lot relief. This is the right path. It is the path that China continues to prosper, and also for lots of the trading partners. The opportunities for global firms in China are very large,” said Joe Ngai, managing partner of Mckinsey & Company in Greater China.
And some business leaders believe that China has already got the most competitive financial firms in the world. Opening to foreign financial institutions will only increase the competitiveness of China’s domestic companies.
China has sent a clear signal that the country is not close its door to global business.
“I think that it's a very positive signal that China is determined to be more open. And I think that would make the international investors very excited, cause that means a lot of opportunities for them in many sectors,” said Kevin Mo, managing director of an independent think tank Paulson Institute.
Rachel Duan, vice president of GE. /CGTN Photo
Vice president of GE Rachel Duan asserts that they see great potential in the fields of power, specifically renewable energy, health care, and aviation in China. “I think these are the fields that GE is happy to invest,” she added.
Chairman of a Switzerland-based think tank Horasis, Frank Richter believes China is a stone defender of globalization.
Frank Richter, founder and chairman of Horasis. /CGTN Photo
“China is very much behind free trade, free goods and ideas. America is very much into what we see as 'America First.' We see it is into populism and even protectionism. I think it is not a right thing to do. We need an open world. We need more dialogues. We need a multilateral world,” said Richter.