By He Yin, People’s Daily
On March 28, Chinese President Xi Jinping met with representatives of the international business community at the Great Hall of the People in Beijing. More than 40 global chairmen and chief executive officers of foreign businesses as well as representatives of business councils attended the meeting.
Xi said that foreign businesses are important participants in the Chinese modernization drive, in the country’s reform and opening up and innovation, and in its interconnectivity with the world and integration into economic globalization.
He stressed that China has been and will remain an ideal, secure, and promising destination for foreign investors. Embracing China is embracing opportunities, believing in China is believing in a better tomorrow, and investing in China is investing in the future.
In a signal of China’s enduring role in the global economy, top executives from multinational corporations (MNCs) recently convened in the country for a series of high-profile international conferences, including the China Development Forum 2025, the Boao Forum for Asia Annual Conference 2025, and the 2025 Zhongguancun (ZGC) Forum Annual Conference. Their presence underscores China’s continued appeal as a hub for innovation and economic engagement.
As a major contributor to global economic growth, China is bringing much-needed stability to the world as it advances its modernization drive. In the first two months of this year, China’s economic recovery gained momentum, marked by rising potential in its vast consumer market, steady progress in institutional opening up, and rapid development of new quality productive forces – drawing a continuous influx of international capital.
Amid rising geopolitical tensions, protectionism, and mounting global economic uncertainties, China’s commitment to high-quality economic growth has provided a rare sense of warmth and confidence for global businesses.
With its huge market, clear policy direction, and well-developed business environment, China remains a critical destination for foreign investment. Since the beginning of this year, China has rolled out a range of measures, including an action plan to stabilize foreign investment and policies outlined in the government work report to stabilize foreign trade. These measures seek to further ease market access, align with high-level global standards, facilitate investment, and create a more favorable business environment – underscoring China’s commitment to sharing growth opportunities with the rest of the world.
MNC executives have expressed their optimism, describing China’s market as both dynamic and indispensable. “The opportunities and growth potential in China are truly exciting,” one executive noted, while another affirmed, “China is not just an option but a must.” This shared confidence is steadily translating into concrete investment commitments, reflecting sustained interest in the country’s economic trajectory.
For MNCs, China has evolved beyond a manufacturing hub into a critical center for research and development. Its dynamic innovation ecosystem provides a crucial platform for global companies seeking to enhance their competitiveness.
Germany’s leading luxury automaker Mercedes-Benz, for instance, will invest an additional 14 billion yuan ($1.92 billion) into the Chinese market, increasing its product portfolio in the country. American medicine giant Eli Lilly and Company has opened its innovation accelerator Lilly Gateway Laboratory in Beijing, the company’s fourth facility of its kind and the first to open outside the U.S. – drawn by the vast opportunities brought about by China’s technological advancements.
A recent PwC survey of over 100 executives from MNCs found that 50 percent of surveyed MNCs believe the importance of China’s innovation ecosystem to their global strategies will continue to grow.
Antoine de Saint-Affrique, CEO of French food group Danone, views China as not just a crucial market but also as one of the world’s most advanced innovation ecosystems.
Multilateralism is the only choice for addressing global challenges. Foreign businesses, especially MNCs, play an important role and bear significant responsibility for maintaining the global economic order. Amid growing calls for “decoupling” and “severing supply chains,” China has reaffirmed its commitment to upholding true multilateralism, promoting universally beneficial and inclusive economic globalization, actively participating in global economic governance, and building an open world economy.
For MNC executives, amid growing protectionism, China has continuously expanded opening up, injecting stability into the global economy, and has become an oasis of certainty and a hot spot for investment and entrepreneurship.
China firmly safeguards the multilateral trading system with the World Trade Organization at its core, proactively aligns with high-standard international economic and trade rules, and maximizes RCEP’s benefits, with trade partnerships covering more than 230 countries and regions.
The country is ready to work with the global business community to safeguard the multilateral trading system, maintain the stability of global industrial and supply chains, protect the international environment for openness and cooperation, and advance economic globalization in the right direction.
Photo taken on March 3, 2025 shows laser equipment exhibited at the Shanghai International Machine Tool Exhibition. (Photo by Wu Xue/People’s Daily Online)
The 2025 Zhongguancun (ZGC) Forum Annual Conference is held on March 27, 2025. (Photo by Guo Junfeng/People’s Daily Online)
Foreign exhibitors present their products to Chinese visitors at the 22nd China International Alcoholic Drinks Expo (CIADE) held in Luzhou, southwest China’s Sichuan province, March 27, 2025. (Photo by Wang Lin/People’s Daily Online)
