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China's industrial resilience, innovation strength draws global investors: commentary

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      China

      China

      China's industrial resilience, innovation strength draws global investors: commentary

      2024-09-12 20:12 Last Updated At:20:37

      China's resilient industrial chain, pioneering creativity and incentive policies are making it a compelling destination for international investors to tap growth potential and grab market share, said a China Media Group (CMG) commentary published on Wednesday.

      An edited English-language version of the commentary is as follows:

      "Over the past 25 years, I have visited China more than 10 times with the same goal each time: to get closer to China," Walter Doring, chairman of the German Hidden Champions Association, told CMG's The Real Point commentary on the sidelines of the 24th China International Fair for Investment and Trade (CIFIT) held in the eastern city of Xiamen from Sunday to Wednesday. Doring believes that China is one of the largest markets globally, and it's difficult for a company to become world-leading without connections to the Chinese market.

      The just concluded CIFIT attracted nearly 80,000 exhibitors from 120 countries and regions and saw a concentrated gathering of international "hidden champions" in China. Preliminary statistics showed that 688 cooperation agreements have been inked, with planned investment nearing 490 billion yuan (over 68 billion U.S. dollars). The four-day event served as a crucial window for foreign investors to understand China and explore Chinese opportunities.

      The vast Chinese market has always represented a significant global opportunity. While forging "new quality productive forces", the Chinese market is showing intriguing characteristics.

      In the production sector, industrial gases are regarded as the "blood" of modern industry. "As China advances a comprehensive green transition, there are broad prospects for clean energy development and carbon capture and storage, creating enormous market opportunities for industrial gas technologies," said Feng Yan, vice president of Air Products and Chemicals China branch.

      On the consumer front, China's evolving consumption concepts are driving demand for high-quality products and services. "Chinese consumers are increasingly focused on smart home technology, health products, and green consumption, providing development opportunities for European companies in China," said Klaus Zenkel, vice president of the European Union Chamber of Commerce in China.

      China's remarkably resilient industrial and supply chains have provided powerful guarantee for foreign investment. Many foreign investors have praised China's complete industrial system, cost-effectiveness, advanced smart manufacturing technology, and high-quality workforce, which help enhance production capacity.

      More noteworthily, as innovation has become a pivotal driving force of China's economic growth, a surging number of foreign companies are taking China as innovation-provoking source. Florian Enders, R and D director of energy company WataS in Saxony, Germany, said that one of the goals for his China trip is to find strategic partners to combine China's solar panel technology with the company's cooling systems, thereby enhancing product efficiency and performance.

      Lured by China's creativity, large groups of foreign enterprises are setting up Research and Development and innovation centers here.

      P4 Precision Medicine Accelerator from the UK is an incubator platform for life science startups. In April this year, the company launched its innovation center in Beijing. Co-founder Nathan McNally said they have already established partnerships with Chinese research institutions. By leveraging China's research competency, infusing extensive clinical samples and rich application scenarios, they aim to accelerate the application of innovative technologies, establish a solid presence in China, and expand larger market shares.

      China's supply chain resilience is also mirrored by foreign trade figures: its total goods imports and exports expanded 6 percent year on year in the first eight months of this year, with exports surging by 6.9 percent. Janos Suga, tender director at Hungarian construction company Market Epito Zrt, expressed hopes to strengthen cooperation with Chinese partners and bring more excellent products and projects back to Europe.

      Driven by zeal in investment, the number of newly established foreign-invested enterprises in China rose 11.4 percent from January to July this year. They also reported improved operating performance. The profits of foreign-invested industrial enterprises above the designated size (those with annual main business revenue of 20 million yuan or more) grew 11.4 percent in the first half of this year. The substantial returns from their operations in China are a major factor driving foreign firms to scale up investments.

      The "China Two-Way Investment Report 2024" released at the CIFIT shows that China retained its position as the world's second-largest recipient of foreign investment in 2023, continuing to be a sought-after destination for global investors.

      More favorable policies are in the pipeline. China has recently removed all restrictions on foreign investment access in the manufacturing sector, while also expanded pilot programs in the healthcare industry, including plans to allow wholly foreign-owned hospitals in multiple cities. Additionally, China's establishment of regular communication mechanisms between the government and foreign enterprises and other supportive measures have further strengthened foreign investors' confidence in developing their businesses in China.

      As McNally put it, "China is highly open and cooperative, providing more opportunities for collaboration with other countries." Taking firm foothold in China and expanding globally, the foreign enterprises are serializing their stories of deeply plowing the Chinese market and sharing its development dividends.

      China's industrial resilience, innovation strength draws global investors: commentary

      China's industrial resilience, innovation strength draws global investors: commentary

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      Promotional video for CMG Spring Festival Gala screened in various countries

      2025-01-22 16:50 Last Updated At:17:07

      A global wave of festive celebrations is unfolding as the Chinese Lunar New Year approaches, with the 2025 Spring Festival Gala promotional video by China Media Group (CMG) serving as a cultural bridge, connecting people from diverse backgrounds to the richness of Chinese traditions.

      The Spring Festival falls on Jan 29 this year, ushering in the Year of the Snake, according to the Chinese lunar calendar.

      At the new compound of the Mission of China to the AU in Addis Ababa, the capital of Ethiopia, a gala was held on Monday to celebrate the upcoming Chinese Lunar New Year, or Spring Festival.

      Featured Chinese foods and traditional performances from both China and Africa, among others, the event has brought together over 300 participants including the representatives of the AU and the Chinese community in Addis Ababa.

      Monique Nsanzabaganwa, deputy chairperson for the African Union Commission, said AU-China cooperation has achieved gratifying and fruitful results during the previous years, noting China's 35-year-long tradition of dispatching its foreign minister to Africa on their first overseas trips at the start of a year.

      The AU is willing to work with China to make greater contribution to the development and prosperity of the Global South, she said.

      "I wish Africa-China relations will achieve greater progress in 2025 and building an all weather Africa-China community with a shared future for the new era will yield fruitful results," Nsanzabaganwa said.

      The promotional video for the 2025 Spring Festival Gala was also aired at the event, marking a step forward in cultural exchange while igniting interest in Chinese traditions among attendees.

      Meanwhile, cinemas in landmark locations across Johannesburg, Cape Town, and Durban in South Africa conducted a synchronized screening of the promotional video for the Spring Festival Gala, marking a first for the collaborative initiative.

      A South Korean expatriate residing in South Africa expressed that seeing the promotional video of the gala, which represents elements of the Chinese Lunar New Year, in South African cinemas evoked a warm sense of longing for family reunions within her.

      "As a foreigner, I was very impressed by the Chinese Spring Festival Gala last year, I was so happy to see the beautiful performances in South Africa's shopping mall at Nu Metro (Cinema). I'm very looking forward to see the live performance with my husband and baby at this Chinese New Year," she said.

      In addition, the Chinese Embassy in Zambia on Sunday held the 2025 Zambia-Chinese Spring Festival Temple Fair with a display of Chinese culture in celebration of the upcoming Spring Festival.

      Featuring various Chinese cultures, including a kung fu performance, the celebration attracted scores of both Chinese people and local people, officials from the Chinese embassy and the Zambian government, and representatives of Chinese enterprises operating in Zambia.

      Chinese food was also on display, while Chinese companies took advantage of the ceremony to showcase their products and services.

      During the event, the promotional video for the gala made a stunning appearance, becoming the focal point of the gathering.

      In December last year, the United Nations Educational, Scientific and Cultural Organization inscribed "Spring Festival, social practices of the Chinese people in celebration of the traditional new year" on the Representative List of the Intangible Cultural Heritage of Humanity.

      Promotional video for CMG Spring Festival Gala screened in various countries

      Promotional video for CMG Spring Festival Gala screened in various countries

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