Multinationals on Guangdong| Why Do Foreign Enterprises Choose Guangdong?
南方財經全媒體集團全國兩會報道組 李依農 北京報道
At this year's “Two Sessions”, the government work report explicitly stated the need to expand high-level opening-up and stabilize foreign trade and investment. This important directive not only demonstrates China's determination to deepen reform and opening up but also injects new momentum into global economic cooperation. As a pioneering region in China's reform and opening-up, Guangdong, with its unique geographical advantages and innovative vitality, has attracted the attention of numerous foreign enterprises. Opportunities, openness, innovation, and potential—Guangdong, with its unique charm, has become a hotspot for global investment.
Guangdong: A Land of Opportunities
Guangdong is a land brimming with opportunities. From traditional industries to cutting-edge technologies, every sector can find its niche here. Kok Ping Soon, CEO of the Singapore Business Federation, noted that the Greater Bay Area is increasingly becoming a focal point, and businesses must follow the pace of opportunities, with Guangdong being a prime destination. Ding Hongyu, Senior Vice President of 3M and President of 3M China, also highlighted the tremendous growth opportunities the Chinese market offers to 3M, with plans to expand into more areas and collaborate closely with Chinese customers and partners. Tobias Farny, Munich Re APAC Chief Executive, echoed this sentiment, stating that Guangdong has achieved remarkable development and will continue to foster growth opportunities in the future.
Bridging China and the World
High-level opening up is a strategic focus for both China and Guangdong. Denis Depoux, Global Managing Director of Roland Berger, emphasized that China's commitment to further opening up, welcoming foreign investment, and integrating into globalization is highly commendable. Pavol Dobrocky, CEO of Boehringer Ingelheim Greater China, stressed that opening-up has driven the robust growth of China's economy and the healthcare market. Gustaf Salford, CEO of Elekta, pointed out that China's open policies provide vast development space for global enterprises, enabling companies like Elekta to develop innovative products in China and bring them to the world.
Guangdong's Key Role in Innovation
A more open China offers unique advantages for international collaboration and innovation, with Guangdong playing a pivotal role in this arena. Cai Jinqing, President of Kering Greater China, expressed hopes to invest in outstanding Chinese innovative enterprises and bring China's innovations to the global stage. Andrew Criezis, President of E-Commerce & SMB at NIQ, marveled at the pace of innovation in big data and artificial intelligence in China, noting that these technologies are driving further innovation. Mike Crichton, Senior Vice President of GSK, expressed confidence in the innovative atmosphere and growth potential of China's healthcare sector, foreseeing significant opportunities for businesses.
The Boundless Potential of China's Market
Looking ahead, China's vast market will continue to offer endless opportunities for global businesses. Severin Schwan, Chairman of the Board of Directors at Roche Group, firmly believes that China will become one of the world's leading life science hubs. Richard Webster, Partner and Head of Global Consumer Products at Bain & Company, shared that executives are excited about the market's potential and are optimistic about the future of China's consumer market. Joe Ngai, Chairman of McKinsey Greater China, famously stated, "The next China is still China," underscoring its irreplaceable position. Matthew Bouw, CEO of Cushman & Wakefield Asia Pacific, highlighted that China's rapidly growing middle class and ongoing urbanization will drive exponential growth in the region over the next decade.
Chief Producer: Yu Xiaona
Supervising Producer: Shi Shi
Editor: Li Yinong
Video Editor: Li Qun, Cai Yutian
New Media Coordination: Ding Qingyun, Zeng Tingfang, Lai Xi, Huang Daxun
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Produced by: Southern Finance Omnimedia Group