China's Unwavering Commitment to Opening-up Will Propel New Industrialization, Green Growth and Digital Transformation

In a powerful address at the China Development Forum 2025, held in Beijing, leaders of top multinational corporations emphasized China's dedication to innovation-driven and green growth. As the second-largest global economy, China's shift towards increased openness presents fresh opportunities for international businesses. As foreign corporations continue to invest in high-end manufacturing and artificial intelligence, they are also reinforcing supply chain capabilities within China. Li Yongjie, deputy international trade representative, reiterated China's commitment to opening up the services sector further, broadening access across telecommunications, healthcare, and education. Prominent executives from companies like Takeda Pharmaceutical and Danfoss Group shared their visions of making strategic investments in China. For example, Takeda's Chengdu-based innovation center focuses on digital healthcare, while Danfoss announced plans to scale production across electric and hybrid power systems. Executives and economists applauded China's strategic approach to foreign investment, with John Quelch of Duke Kunshan University highlighting the nation's focus on collaborative R&D over manufacturing alone. Jean-Pascal Tricoire of Schneider Electric echoed sentiments of transformation and evolution in China's industrial landscape, foretelling a time where productivity benefits more than just Chinese industries. In a concurrent narrative, global leaders like Oliver Zipse from BMW AG and Antoine de Saint-Affrique from Danone SA stressed the adverse implications of rising protectionism worldwide and reiterated the necessity for economic openness for prosperity. However, challenges loom as China's economic strategy also contends with protectionist trade battles, particularly with the United States. Efforts to bolster Southeast Asian and European trade relations remain crucial, and the conversation at the forum portrayed China's desire to engage cooperatively on the global business stage. Meanwhile, the economic interactions of U.S. businesses in China reflect a dual landscape of opportunity and unpredictability, compounded by a deflationary economy and real estate setbacks. Nevertheless, optimism persists with technology at the core of future growth directives.