China's robust economic growth has been acting as a core factor that attracts overseas-funded enterprises to further tap into the vast market of the world's second largest economy, according to a Japanese company leader who is attending the fifth Qingdao Multinationals Summit in Shandong Province.
The three-day summit opened Tuesday and has brought together over 400 multinational company leaders, including a large portion of Japanese giants that have been operating in China since the early days of the reform and opening-up.
Speaking to China Global Television Network (CGTN), Ueda Toshihiro, executive officer of AGC Inc., a Japanese glass manufacturer and also vice chairman of the Japanese Chamber of Commerce and Industry in China, shared insights on the role that Japanese companies have played in the economic development of China and talked about those multinational corporations' continued enthusiasm for the Chinese market.
"Forty years ago, Japanese companies, including AGC, brought technologies, products, and people to China's market and investing, of course, then got together to grow with both Japanese companies and China's market. We cooperated to make, establish the foundation of China's economic market. Now China's continuous economic growth is the key element for not only us, but most of foreign companies," he said.
Ueda, who has attended the summit for five years in a row, also foresees some new opportunities emerging from the gathering and is eager to learn more about the expectations of other foreign enterprises for the Chinese market.
"I strongly expect to hear how firm or how solid the confidence in China's economic growth, by listening to the leaders, China leaders' comments or dialogue. Also I would like to listen to foreign companies, their expectations, and their hopes in China's market," said Ueda.
Ueda further noted that the recent policy shift aiming at further attracting foreign investment has been a key factor in expanding investment confidence in the near future.
Since its inception in 2019, the summit has served as an important platform for dialogue, exchange and practical cooperation between China and multinational corporations.
The fourth summit, held last year, saw agreements reached for 194 foreign investment projects with an approximate total investment of 20.6 billion U.S. dollars, surpassing previous summits in investment scale. A total of 389 foreign investment projects were inked during the first four summits, with a combined investment of 48.02 billion U.S. dollars.
China's continuous economic growth key for foreign companies: AGC Group leader
