China is rapidly emerging as a prime destination for foreign direct investment (FDI) in innovative and sustainable technologies. Recent high-profile business events, such as the China Development Forum 2024, the Invest in China Summit, and the annual conference of the Boao Forum for Asia 2024, have highlighted the country’s appeal to global investors.
Leading multinational corporations are keen to tap into China’s burgeoning sectors. German conglomerate Siemens and Danish engineering giant Danfoss are among those investing heavily in the country’s green transition and smart manufacturing industries. Siemens plans to expand its digital factory in Chengdu, the capital of southwest China’s Sichuan Province, by the end of the year. Meanwhile, Danfoss is set to build its largest manufacturing base in Haiyan County, eastern China’s Zhejiang Province.
Innovation and sustainability are at the heart of China’s new quality productive forces, driving advanced productivity characterized by high-tech efficiency and high-quality outputs. The nation’s commitment to policy support, openness, reform, and a green transition has further enhanced its attractiveness to foreign investors.
China’s digital revolution is a significant factor in attracting global investment. Emerging industries such as artificial intelligence, high-tech manufacturing, quantum computing, new energy, biotechnology, e-commerce, electric vehicles, brain-computer interfaces, big data, cloud services, blockchain, and on-demand computing power are flourishing in the rapidly evolving global economy.
The country’s swift shift from a traditional to a digital economy is evident in the widespread adoption of digital payment systems, e-governance, e-commerce, and online communities. As of March 2023, the National Government Service Platform boasted one billion registered users and had been accessed 86 billion times. These developments not only contribute to China’s sustainable economic growth and modernization but also set international best practices.
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China emerges as a prime FDI hub for new quality productive forces
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