For the annual China Development Forum ( CDF), thousands of foreign CEOs are gathered in Beijing this week.
Beijing is communicating to the universe that the country’s second-largest market is open for business as the US pursues protectionist” America First” policies in the face of heightened global doubt.
The Taiwanese government has repeatedly reaffirmed its commitment to boosting the country’s economy. Its most recent federal labor report, which was released in March, provides clear recommendations for high-standard starting up and improving the business environment for foreign traders.
Chinese Premier Li Qiang once more urged for greater cooperation at the CDF. It is more important for countries to start up their markets and businesses to withstand risks and challenges in today’s increasingly scattered earth with rising volatility and uncertainty, Li said.
However, “opening up” risks turning out to be an empty promise without going beyond company offers.
Chinese politicians intend to tell the world that in contrast to “high surfaces,” the nation is taking concrete steps to attract foreign investments as part of meetings with foreign company officials at the Diaoyutai State Guesthouse this year.
China’s Vice Premier He Lifeng reaffirmed the country’s business potential and sincerity in his meeting with Apple, Pfizer, Mastercard, Cargill, and others on Sunday ( March 23 ).
China’s efforts to improve the business culture reflect its kindness. In March, the Chinese Ministry of Commerce announced that roundtable discussions have addressed more than 500 concerns for foreign-funded businesses.
China has so far given the right to get value-added communications services for 13 foreign-invested businesses. Moreover, three new hospitals that are completely owned by foreigners have received approval to run in addition to the over 40 foreign-funded biotechnology projects that have been launched.
According to a survey conducted by the China Council for the Promotion of International Trade in January, nearly 90 % of Chinese firms are “very satisfied” or “relatively happy” with the country’s total business culture last year.
The surveyed businesses scored China’s business culture with a 4.37 out of 5, which is an improvement of 2.1 percent points over the same period in 2023.
While some American politicians have been working to avert multinational corporations and businesses from China while citing national security concerns, it is interesting to see how global investors are acting against their president’s wishes.
A impressive number of American business leaders, including Tim Cook of Apple, Albert Bourla of Pfizer, and Rajesh Subramaniam of FedEx, have signed up for the two-day event in Beijing despite Washington’s price strain, in an ostensible display of their excitement for the Chinese market.
The customer moves very quickly in this industry. The customer is the one who is the most technologically engaged. And as we respond to the needs of this customer with technology, we are better equipped to provide those improvements to the rest of the world, according to Joanne Crevoiserat, CEO of US-based Tapestry, in an appointment with CGTN.
Stock market prices reflect investment preferences. The MSCI China Index marked its best start of the year, rising 19 % as of March 9 as per a report from investment bank Goldman Sachs, despite the US stock market’s catastrophic decline in March, which saw a staggering$ 5.28 trillion in value loss in just three weeks.
The change in investment opinion is certainly unexpected. Washington is pushing for economic dispersion through restrictions, taxes, and other trade barriers in order to make America “great” once more.
Under the” America First” philosophy, the Donald Trump administration is heading even further down the path of protectionism. China has, in comparison, shown signs of support for free trade and foreign funding.
According to a proverb,” When the winds of change punch, some build rooms, while others build turbines,” The two biggest economies of the world are making different decisions between walls and windmills, according to international investors.
Their decisions about putting money in China and removing it from the US are also influenced by this.
Jianxi Liu is a contributor to Chinese media publications including Global Times, CGTN, and other countries and an analyst of political and international relations based in Beijing.