Current location:travel >>
Investing in the new: foreign firms tapping into China's emerging industries
travel972People have gathered around
Introduction(Xinhua) 13:17, February 09, 2024BEIJING, Feb. 9 (Xinhua) -- Upbeat about the business opportunities ...
BEIJING, Feb. 9 (Xinhua) -- Upbeat about the business opportunities in China's new energy sector, global industrial gas supplier Air Products has been scaling up its stake in the country.
Last year, the company established its Asia hydrogen application technology center in east China's Zhejiang Province, where it is also building China's first commercial-scale liquid hydrogen plant. In addition, it is also working to advance the local production of liquid hydrogen storage tanks in Shanghai and local liquid hydrogen industry standards.
"The growth potential of innovative green technologies will be tapped further as China promotes the development of new productive forces," said Saw Choon Seong, president of Air Products China.
As new productive forces underscore scientific and technological innovation and green growth, they are expected to generate new industries, models and growth drivers, analysts say. For foreign investors, these forces mean increased demand and a bigger market.
Air Products' ongoing commitment to China epitomizes how foreign enterprises are digging into opportunities brought by the country's pursuit of these new productive forces.
On the back of government policies, China's strategic emerging industries have seen rapid expansion in recent years, and high-tech industries have also become hot spots for foreign investors.
Last year, the country's high-tech industries drew in foreign direct investment totaling 423.34 billion yuan (about 59.6 billion U.S. dollars), accounting for a record-high 37.3 percent of the national total, data from the Ministry of Commerce shows.
Cai Wei, chief strategy officer of KPMG Advisory (China), said that China will create multiple opportunities for foreign firms while developing new productive forces.
"In emerging sectors such as new materials and advanced manufacturing, we have seen demand for high-quality industrial gases and advanced application technologies rise in recent years," Saw said.
To better leverage innovation trends, explore market opportunities and meet the demands of consumers, an increasing number of foreign enterprises have established research centers in China.
Take ResMed as an example. The medical device manufacturer has set up a local digital research and development team in China, along with an independent production base and product lines targeting the Chinese market.
Scientific and technological innovation will play a key role in China's future development, said Tony Liu, general manager of ResMed China. He observed that enterprises in China have accelerated digital transformation and industrial chain upgrades, striving to move up the value chain.
With a supersized market, high-quality talent pool, stable social environment, solid infrastructure and improving government services, China boasts a comprehensive competitive edge and holds "strong appeal" to foreign enterprises, Liu said.
Cai noted that China's complete industrial chain and strong industrial supporting capabilities have provided a solid foundation for foreign companies to collaborate with their Chinese peers.
"Foreign enterprises can cooperate with local companies, share resources, and facilitate technological exchanges and industrial upgrades, enhancing their overall competitiveness," he said.
While fostering new productive forces, the country has rolled out a raft of policies and cultivated a more open and friendly environment for foreign investors, Cai noted. "Foreign companies should seize these opportunities, actively participate in the market, and grow together with the Chinese economy," he added.
On international cooperation, he said that China has taken the initiative to integrate into the global innovation network and enhance its technological and industrial innovation capabilities through opening-up and cooperation over the past 10-plus years.
With the development of new productive forces, such cooperation will be strengthened further, especially in the research, development, application and promotion of disruptive and cutting-edge technologies, he said.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Stellar Stance news portal”。http://vifefibywomovap.allesfuersjagen.com/article-788d799155.html
Related articles
Arsenal needs a favor from Tottenham in the title race. Current form suggests it won't happen
travelFour straight losses. The team’s worst run of results for 20 years. Two clean sheets since the end o ...
【travel】
Read morePeople visit Inner Mongolia Science and Technology Center
travelPeople visit Inner Mongolia Science and Technology Center in Hohhot, north China's Inner Mongolia Au ...
【travel】
Read moreChina cuts 88 bln yuan in logistics costs in 2017
travelChina reduced logistics costs by more than 88 billion yuan (13.4 billion U.S. dollars) in 2017, the ...
【travel】
Read more
Popular articles
- James Corden appears in good spirits as he arrives with glamorous wife Julia Carey at the pre
- China launches new mobile telecommunication satellite
- China sees stronger momentum for scientific and technological innovation over past five years
- China continues to push deleveraging despite initial progress
- Anaheim Ducks goaltending coach Sudarshan Maharaj declared cancer
- New model reveals seabirds' movement may help analyze animal decision
Latest articles
REVEALED: Michelin Guide names its first
Flu season sees spike in drug production
World's largest energy corridor generates impressive power
Xi Focus: Xi Calls for Promoting Peace, Solidarity, Inclusiveness Through Sports
Lawsuit alleges decades of child sex abuse at Illinois juvenile detention centers statewide
Xi Focus: Xi Calls for Promoting Peace, Solidarity, Inclusiveness Through Sports
LINKS
- Hanna and Haley Cavinder say they're returning for last season at Miami
- Thailand urges Myanmar’s junta to free Aung San Suu Kyi — Radio Free Asia
- Depleted New Zealand batting first against Pakistan in T20
- Possible TikTok ban revived as part of House foreign aid package
- Liquor sales in movie theaters, to
- Prince Harry confirms he is now a US resident
- Lawsuit filed over new Kentucky law aimed at curbing youth vaping
- University of Oregon football player, 19, is arrested for fatal hit and run after 46
- Mother charged in death of 14
- Average long