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Foreign investors see China bringing greater development opportunities to the world

Updated: May 16,2018 5:30 PM’s daily

Recently, a series of measures to deepen reform and opening-up were taken, demonstrating the firm determination by China to persist in opening up in the new era. A growing number of international investors spoke highly of China’s commitment and determination, according to People’s Daily.

“For Siemens, China is the second largest overseas market, as well as a unique R&D base and a treasure trove of talent. It also supports the future development of the company,” said Lothar Herrmann, chief executive officer (CEO) of Siemens Group Greater China.

Last July, Siemens signed a memorandum of understanding (MoU) about cooperation on digital technology innovation and application with the National Development and Reform Commission of China. A strategic cooperation agreement on industrial internet and intelligent manufacturing was also signed between Siemens and China Aerospace Science and Industry Corp.

Herrmann said that China has entered a new era after 40 years of reform and opening-up, strategies such as Internet Plus and the Belt and Road Initiative will usher in new prospects and promote sustainable development, and Siemens will continue to cooperate with China in the future.

China’s share of the world economy has increased remarkably in the past 40 years, which is why China has greater influence on the world, and the world is paying more attention to China, said Gian Maria Milesi-Ferretti, deputy director of the Research Department of the International Monetary Fund (IMF).

Data from the Ministry of Commerce showed that China’s actual use of foreign capital reached 877.56 billion yuan in 2017, hitting a record high.

According to IMF, China’s per capita GDP reached $9,153 (about 63,925 yuan) in 2017, said François Godement, a senior policy fellow at the European Council on Foreign Relations (ECFR).

He added that China is also playing a significant role in key future technologies, including 5G mobile networks, e-commerce, social media, robotics and Internet of Things.

China has achieved great economic success in just a few decades, and one of the important reasons is reform and opening-up, said Barbara Thomas Judge, chairman of the UK Institute of Directors, who has visited China more than 20 times since 1979.

She also spoke highly of the specific measures to open up wider mentioned by President Xi Jinping at the recent Boao Forum for Asia. She believes that these measures will attract more international enterprises to invest in China and encourage Chinese enterprises to go abroad, thus effectively boosting the recovery of the world economy.

“The world needs leaders like China,” she added.