Multinationals look forward to participating in China’s economic growth and sharing the benefits

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(Yicai Global) Oct 18 — Several multinationals said they welcome the opportunity to play a bigger role in China’s development and share the spoils of growth after the economic plan released by Congress yesterday. National Party of the Chinese Communist Party. focus on further deepening reform and opening up.

Yicai Global spoke with representatives of more than 10 multinational companies in China in areas ranging from advanced manufacturing to aviation and building materials. All said they plan to increase investment in the country, help transition from “Made in China” to “Created in China”, build a green economy and continue to share growth dividends. from the country.

Danone looks forward to an even greater level of openness, Bruno Chevot, Danone’s president for China, North Asia and Oceania, told Yicai Global. The French agri-food producer has witnessed, experienced and benefited from China’s reforms and opening up. The company’s sales in China have doubled over the past decade and China is now the Paris-based company’s second largest market globally, he added.

The National Congress report serves as a guide for New Zealand dairy company Fonterra Co-Operative Group to assess the country’s future development direction, said Zhou Dehan, general manager of Fonterra’s China division.

The report said “win-win cooperation” is fundamental to achieving “modernization with Chinese characteristics”, Zhou said. Auckland-based Fonterra will continue to increase investment in China, work closely with Chinese partners and share with them the benefits of the country’s development, he added.

More opportunities

“The huge domestic market and strong demand in China still have a lot of potential,” said Rajat Agarwal, president of the China branch of German chemicals and consumer goods company Henkel. The country’s high-level reform and opening-up policies will provide the country’s businesses with more opportunities, he added.

“We are glad to see that China has entered a whole new stage of development, and we, together with our Chinese partners, are seizing opportunities to develop more world-class resources and support China’s economic development,” he said. Alf Barrios, chief commercial officer and chairman of the China division of British-Australian mining titan Rio Tinto, told Yicai Global.

Rio Tinto and China Baowu Steel Group agreed last month to invest $2 billion to develop an iron ore project in Western Australia‘s Pilbara region, Barrios said. London-based Rio Tinto will hold a 54% stake in the joint venture and Baowu 46%.

“We have also signed a memorandum of understanding with Shougang Group Steel Mill to develop, design and implement low-carbon solutions for the steel industry,” he added.

The National Congress report underscores China’s determination to accelerate the formation of a new development pattern and focus on high-quality development, said Huang Guoqiang, senior vice president of Danish toymaker The Lego Group. and General Manager China.

China has always been an important strategic market for Lego, and the Billund-based company still has plenty of room to grow in the country, Huang said. “We will continue to explore the huge Chinese market and help children learn and grow while playing with Lego toys.”

China has the potential to be an active participant and leader in the global economic recovery, said Chen Jialiang, senior vice president of U.S. logistics giant FedEx Corp. and president of the Chinese branch. FedEx will continue to invest in infrastructure and expand its network to more second- and third-tier cities to connect China to the world with efficient, reliable and abundant transportation links, he added.

From “Made in China” to “Created in China”

The institutional opening is a next-level opening, said Wang Chunwen, president and president of the Asia-Pacific branch of British security equipment company Halma. China has made continuous efforts in this regard. For example, the country is strengthening its position on intellectual property protection, which will encourage multinationals to be more active in the transition from “Made in China” to “Created in China”.

Intellectual property protection is an issue for Halma when importing some of its high-tech products to China, Wang said. China is improving its intellectual property laws and regulations to conform to international standards and adjusting its rules to enable the on-the-ground implementation of internationally accepted practices, he added.

Halma now has nearly 900 employees in China and is building a production, research and development base for the Asia-Pacific region in Shanghai to promote local innovation.

German cleaning equipment maker Alfred Karcher has successfully transitioned from “Made in China” to “Created in China” as it improves its business positioning in China, said Tang Xiaodong, China president of Alfred Karcher. Products developed in China in the future will use the company’s global sales network to go global.

Shared Benefits

The report showed China’s determination to adhere to high-quality openness and its sincere desire to share its market opportunities with the rest of the world, said Wang Lei, global vice president and China president of the British drug developer. AstraZeneca. AstraZeneca is confident and looks forward to the company’s future development in the country.

U.S. aerospace company Honeywell International will continue to provide China’s first large passenger plane, the Comac C919, with innovative solutions and help it become a successful commercial aircraft, Yu Feng, president of Honeywell China, told Yicai Global. .

China’s cutting-edge and carbon-neutral goals are an important step in global climate change management and will provide more opportunities for Honeywell and other companies to focus on innovative technologies for sustainable development, said Mr Yu.

Honeywell is joining forces with Chinese partners to form a sustainable aviation fuel plant in Lianyungang, eastern Jiangsu province, to reduce carbon emissions in the aviation industry, the North Carolina-based company said. last month.

Publishers: Tang Shihua, Kim Taylor

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