Foreign companies express confidence in China’s economy

World
Europe

As the world's second largest economy, China has seen its development interconnected with that of the world. With the objective of “Engaging with the World for Common Prosperity” and theme of “China in the New Era,” this year’s China Development Forum (CDF) is a significant platform for dialogue between Chinese officials and top international business leaders.

Delegates are gathering in Beijing, discussing policies coming out of China's just-concluded annual Two Sessions.

2018 marks the first year of implementing the guiding principles of the 19th CPC National Congress and the 40th anniversary of China’s reform and opening-up policy.

Chinese Premier Li Keqiang said at the press conference during the Two Sessions that China will further open up its economy, and its door to the outside will be open even wider, with foreign and domestic firms allowed to compete on an equal footing. And China will increase access to its services sector while further lowering import tariffs.

The annual China Development Forum kicks off in Beijing on March 24, 2018. /VCG Photo

That is welcomed by global businesses. "From my own point of view, business in China is a third largest market after the US and the EU. I’m interested in how China is developing," Martin Sorell, CEO of WPP, a global advertising and marketing services company, told CGTN.

Meanwhile, China's economy has shifted from high-speed growth to high-quality development and is in a key stage of transforming its development mode, optimizing economic structure and changing growth momentum.

Chen Xingdong, managing director and chief economist from BNP Paribas, noted that opening-up will help achieve that shift.

Chen said China is becoming willing to further open its door and share its market. “As the country is moving to a new stage of development, it’s necessary for the market to (be) played together,” Chen explained. Besides, “China is trying to intensify competition. This is good,” Chen added.

(CGTN’s Wang Yue also contributed to the story)