Foreign firms ride strong growth arc

A growing number of multinational corporations are deepening their roots in China amid global uncertainties, drawn by the country's rapidly advancing innovation capabilities, the sheer scale of its domestic market, and a fresh policy push to create a more welcoming business environment, officials and executives said.

The trend, evident across sectors from advanced manufacturing to consumer goods and financial services, reflects a recalibration by global companies seeking to capitalize on China's evolving economic strengths and robust policy support, they added.

Business leaders around the globe are closely following the ongoing two sessions — the annual meetings of China's top legislature and top political advisory body — that serve as a critical window to observe the country's development plan for the new year.

In particular, opening-up policies deliberated here to further stabilize foreign investment, expand market access, and align domestic rules with international standards will have a significant impact outside the country's borders.

Despite protectionism and unilateralism being on the rise elsewhere, Commerce Minister Wang Wentao stated in late January that "China possesses various strengths in attracting foreign investment".

As the world's second-largest importer, accounting for over 10 percent of global imports — second only to the United States' 13.6 percent — China continues to position itself as an indispensable node in global investment networks, Wang said.

He also noted that the country's economic heft is underpinned by a comprehensive industrial system encompassing more than 200 mature industrial clusters that span everything from consumer electronics to advanced materials and new energy vehicles.