China's strong economic fundamentals continue to attract businesses from around the world, with foreign direct investment (FDI) into the country still on the rise -- particularly in high-tech sectors -- according to Hemione Hudson, Chair and CEO of PricewaterhouseCoopers (PwC) China.
The China Development Forum is currently underway in Beijing, bringing together business leaders and economic experts from around the globe to discuss the latest developments in both Chinese and international markets.
During an exclusive interview with China Global Television Network (CGTN), Hemione Hudson shared PwC China's outlook on the country's economic prospects.
"I think the U.S-China dynamic is just one facet of a changing global environment and our multinational clients are having to navigate very uncertain times at the moment. And so our advice is for them to take a data driven view and actually look at the differences between short-term challenges and longer-term opportunities, because there are still really good long-term opportunities, advanced manufacturing and high-tech. The investment, the foreign direct investment into China is actually still increasing, and there are other areas like we've heard about today, a lot of opening-up into the service sectors, finance, bio-tech, pharmaceuticals. All these areas are untapped potential and there's a lot of long-term opportunities," she said.
Hudson highlighted why global CEOs continue to view China as a top investment destination, pointing to the country's economic resilience, global trade leadership, and vast consumer market.
"A recent survey actually showed that CEOs across the world see China as one of the top in areas to invest in, and that's because, I think, of a few things. Firstly, companies who are operating in China have been operating in uncertain environment for a long time. They've actually become resilient to managing trade disputes and supply chain shocks. So they're quite resilient, both domestic companies in China and multinationals here. But also it's because of the fundamental economics. China is the largest global exporter in the world. In 2024, it's [it accounted for] 14 percent of global exports. And as well as that, it is a huge market, so companies want to be able to invest in China, and they see the opportunity, they see the scale, they see the innovation, and, of course, they see a fantastic consumer market," she said.
China's status as the world's biggest goods trader was further strengthened with its exports and imports accounting for 14.5 percent and 10.5 percent of the world's total in the first three quarters of 2024 -- up 0.3 and 0.1 percentage points year-on-year, according to World Trade Organization data.
High-tech growth, strong fundamentals attract foreign investment to China: PwC China CEO
