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Foreign companies boost investments in China

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      China

      China

      Foreign companies boost investments in China

      2024-07-15 19:29 Last Updated At:20:27

      Foreign companies have been enhancing their investments in China, underscoring the country's significant potential and enduring attractiveness as a premier investment destination.

      European aircraft manufacturer Airbus, for instance, has put its A320 Family Final Assembly Line Asia (FALA) in north China's Tianjin Municipality into operation in 2008.

      As the first Airbus production line established outside Europe, the FALA has been operating for over 15 years and has become a role model of successful China-Europe cooperation.

      The 700th A320 family aircraft assembled in China was officially delivered on July 8.

      Airbus has ambitious plans for further expansion in China. According to the aircraft manufacturer, the second assembly line is expected to be completed and commence official operation at the beginning of 2026.

      Xu Gang, CEO of Airbus China, said the company also plans to allocate 20 percent of its global production capacity for the A320 series aircraft to China.

      "Through tangible actions, we are showing our confidence and support to China's investment environment. Our supply chain in China is rapidly expanding, and our industrial cooperation in the country has already reached a value of 1 billion U.S. dollars," explained Xu.

      Considering China's high-level economic opening up, Airbus will further enhance its investments in areas such as sustainable aviation fuels, a biofuel used to power aircraft with a smaller carbon footprint, in the country.

      "We see the favorable conditions in China, which include advantages in resource endowment, green energy, and large-scale production capabilities. We are eager to collaborate with all stakeholders in the ecosystem and firmly believe that this cooperation will serve as significant new quality productive forces," added Xu.

      China's inclusive and innovative ecosystem, along with its favorable business environment, has also created extensive opportunities for foreign-invested brands to establish their presence in the Chinese market.

      Medtronic, one of the first multinational medical technology companies to enter China, has been steadily expanding its operations along the entire value chain in the country.

      The construction of the Medtronic Kanghui Changzhou Science and Technology Park began in Changzhou National High-tech District in east China's Jiangsu Province in 2023, aiming to enhance the research and development as well as production capabilities of advanced medical devices and intelligent equipment in the Yangtze River Delta region.

      Brett Wall, the Executive Vice President of the U.S.-based firm, said he is bullish on the company's development in the Chinese market.

      "When I look at our business in China, we've found ways to grow and to continue to grow here and at the same time utilize the unique resources, the unique technology, the unique abilities that we have here in China, and frankly, that makes us a better company," said Wall.

      Foreign companies boost investments in China

      Foreign companies boost investments in China

      Foreign companies boost investments in China

      Foreign companies boost investments in China

      Next Article

      Representatives to UN hope for smooth implementation of Gaza ceasefire agreement

      2025-01-21 13:27 Last Updated At:13:37

      Representatives of many countries to the United States have expressed the hope for a full implementation of the Israel-Hamas ceasefire agreement.

      The agreement, brokered by Qatar, Egypt and the United States, came into effect in Gaza on Sunday. The three-phase agreement is aimed at a "permanent ceasefire between the parties", according to the mediators.

      At a UN Security Council meeting held on Monday, Secretary-General Antonio Guterres praised the conclusion of the agreement between Palestine and Israel of the ceasefire and the exchange of detained persons, but stressed that efforts are still needed to ensure a comprehensive ceasefire, release all detained persons and increase humanitarian assistance.

      Varsen Aghabekian, state minister for foreign affairs and expatriates of Palestine, said in her speech that the Palestinian side hopes the ceasefire agreement could be implemented and that the Palestinian government is ready to resume management in Gaza.

      "We confirm that the Palestinian Government is ready to work with friendly brotherly countries and organizations to assume responsibility for the administration of the Gaza Strip and the West Bank, including restoring basic health, education, water and electricity services, ensuring the return of displaced persons to their homes, and preparing for the reconstruction phase," she said.

      Right before the meeting, several representatives to the United Nations spoke to China Media Group (CMG) and what they said the most was hoping that the implementation of the agreement could hold all the way through.

      "It would be good if it holds," said Vasily Alekseyevich Nebenzya, permanent representative of Russia to the United Nations.

      "We welcome it so far. We hope it holds and we hope that the next steps will be taken," said Munir Akram, a Pakistani diplomat currently serving for the second time as the permanent representative of Pakistan to the UN.

      "We had supported the deal some time ago," said Carolyn Rodrigues-Birkett, permanent representative of Guyana to the UN.

      Representatives to UN hope for smooth implementation of Gaza ceasefire agreement

      Representatives to UN hope for smooth implementation of Gaza ceasefire agreement

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