Growing With China
Global company executives optimistic about further opportunities in the world’s second largest economy By Ma Xiaowen
The First Qingdao Multinationals Summit opens in Qingdao, east China's Shandong Province, on October 19
German multinational engineering and technology company Bosch is celebrating its 110th year in China. It currently employs about 60,000 people in the country, its largest workforce outside Germany.
“Thanks to reform and opening up, China has become the second largest economy in the world and the second largest investor in scientific research,” Volkmar Denner, CEO of Robert Bosch GmbH, said at the First Qingdao Multinationals Summit in Shandong Province in east China on October 19.
Denner refl ected multinationals’ optimism about opportunities in China. “China’s urbanization rate is close to 60 percent. Therefore multinationals have broad market prospects here,” he said, adding that there is still a huge space in China for Bosch over the medium and long term.
President Xi Jinping has always acknowledged the positive role played by multinationals in the Chinese economy. In his congratulatory letter, he called them important participants, witnesses and beneficiaries of China’s reform and opening up. He also assured them that the opening up will get wider and wider, and the business environment better and better, with more and more opportunities for global multinationals.
A major player
After over 40 years’ development, the number of multinationals investing in China has increased exponentially, according to a report released by the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce (MOFCOM) at the summit.
There were 961,000 foreign-invested enterprises in China at the end of 2018 and paid-in foreign capital totaled $2.1 trillion, according to the report, Multinationals in China: 40 Years of Investment. China has attracted more foreign investment than any other developing country since 1992. In 2018, the amount reached $134.97 billion.
China welcomes multinationals to work together to safeguard the multilateral trading system and promote economic globalization, he added.
依据钻孔轨迹顶角的变化可分为正弯曲和负弯曲。正弯曲是钻孔顶角增加的轨迹弯曲段，钻探钻井钻孔轨迹通常是正弯曲，比如：石油钻井水平井施工，顶角增加至近90°；水平定向钻进施工入地时顶角近75°，出土时顶角近105°。负弯曲是钻孔顶角减少的轨迹弯曲段，钻探施工过程中纠斜的钻孔轨迹是典型的负弯曲。在正弯曲和负弯曲孔段，起下钻、事故处理等作业钻杆柱受力状态有本质的不同。正弯曲时，钻杆柱整体顺钻孔下孔壁运移，不易形成载荷集中点，对入孔钻杆柱最少曲率半径要求较小；负弯曲时，钻杆柱顺钻孔局部下孔壁运移(下钻易遇阻)，易形成较大载荷集中点，对入孔钻杆柱最小曲率半径要求较大。
Over 480 Fortune 500 companies are investing in China in microchips used in mobile phones, cars, planes, iron ore, household appliances, and so on. China has become a powerhouse for the development of multinationals, the report said.
Xi said global entrepreneurs are welcome to invest in China, strive for mutual benefi t and win-win outcomes, and jointly create a better future.
Microsoft set up its first liaison office in Beijing in 1992. Today, its largest research and development center outside the United States is in China.
Han said multinationals have brought advanced technical equipment, rich management experiences, high-quality products and services and leading innovation resources over the previous 40-plus years.
Since then, the measure has been rolled out nationwide, while authorities have revised the list regularly, reducing the number of items on the list as more sectors are thrown open to foreign investors in the course of the new round of opening up.
今天的人回顾云南陆军讲武堂的历史，经常会很惊讶。中国西南的边陲，经济、文化和教育并不比别处更发达（客观讲甚至更为落后），那为何在军事教育方面成绩会那么突出？
The latest easing of restrictions on market access for both domestic and foreign investors was announced by the National Development and Reform Commission on September 18. In addition, intellectual property (IP) protection has been improved and the Foreign Investment Law, which will come into effect on January 1, 2020, shows the government’s determination to provide effective legal safeguards for foreign investment in China.
Vice Premier Han Zheng underscored the efforts to improve the business environment and deepen mutually beneficial cooperation with multinationals in his opening speech.
Tariffs will be lowered and non-tariff barriers scrapped to foster a better business environment for multinationals. Han said China is willing to strengthen exchanges and cooperation in areas like innovative and intelligent manufacturing, green development and global governance.
China fi rst introduced the business-friendly negative list measure in the Shanghai pilot free trade zone in 2013, a transparent and effective way of letting foreign investors know which sectors are open to them. Only those found on the negative list remain out of bounds.
He also said China is ready to join hands with other countries, international organizations and various market players to deepen mutually beneficial cooperation, develop an open economy and share a bright future.
Chinese and German representatives inaugurate the FAW-Volkswagen Automotive Proving Ground Phase I in Changchun, northeast China’s Jilin Province, on August 19
传统知识服务商在集成海量二次文摘与引文数据库，并拥有用户行为数据的基础上，对期刊、论文、学者、机构进行评价，以对期刊评价以便进行期刊评级（如影响因子、CS）；对学者的科研能力评估，对机构的科研能力与创新力等进行评估，以帮助机构寻找合作者、引进人才、发现投资项目等。
Although accounting for less than 3 percent of all companies in China, foreign-invested enterprises have become an important part of the Chinese economy, contributing nearly half of the foreign trade, a quarter of the output value and profi ts of industrial enterprises, and a fi fth of tax revenue.
The multinational perspective
Chinese and Japanese companies have conducted third-party market cooperation in some countries participating in the Belt and Road Initiative. During Japanese Prime Minister Shinzo Abe’s visit to China in October 2018, the First Forum on China-Japan Third-Party Market Cooperation in Beijing saw over 50 agreements signed to strengthen the mechanism.
According to the World Bank’s 2019 Doing Business report, China’s business environment ranks 46th out of 190 economies, compared to 78th last year.
“We will keep on investing in China to help the country achieve digital transformation successfully,” Alain Crozier, Senior Vice President of Microsoft and Chairman of Microsoft’s Greater China area, said. “China has already become the source of global innovation.”
根据《农用地定级规程》（GB/T28405-2012）及安徽省2016年度定级试点工作成果，邀请六安市及金安区国土局、农委、水利部门、交通部门等专家结合金安区实际情况，选取了两个备选因子，确定2017年度耕地定级因素因子体系[17]。
The participants of the two-day summit, lauding their mutually beneficial cooperation with China, said they will promote the digital economy, innovation and green development. They will also take part in the Belt and Road Initiative.
Nakamura Masami, President of the Japan Management Association, said at the summit that companies from China and Japan have broad prospects for cooperation in developing third-party markets.
A report, titled Multinationals in China: 40 Years of Investment, is released by the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce, on October 19
Sumitomo Nakamura, President of Sumitomo Corp., a Fortune 500 global trading and investment company, said China’s commitment to improving the business environment can be seen from the guidelines for IP protection issued while announcing the policies for further opening up the market.
牧民群众在发展草原畜牧产业过程中依然沿用传统养殖模式和养殖理念。采用放牧养殖模式开展动物养殖，每年放牧期近11个月，使草场严重过牧。根据不完全统计，乌拉特前旗规模化、标准化畜牧养殖存栏量不足10%，地区大多草食动物基本处于放养、散养状态，标准化、集约化养殖仅占2%左右。
Woo-sug Baik, President of OCI, a green energy and chemical company in the Republic of Korea (ROK), also lauded the IP protection measures. “The strengthening of IP protection will encourage multinationals to invest in China,” he said.
He added that top ROK companies might enter China in the near future as the new opening-up policies have created opportunities for them to invest and extend their industrial chain.
Marcelo Fioranelli, China CEO of Air Liquide, a French company that is one of the biggest suppliers of industrial gas and services, said he believes China will create a more stable, fair and transparent investment environment for multinationals, which has boosted his confidence in investing. “China’s inclusive development model and step-by-step reform toward a market economy has provided multinationals with a good environment to do business,” he said.
Support for multilateralism
Themed Multinationals and China, the summit was jointly hosted by MOFCOM and the Shandong Provincial Government. It was attended by 115 Fortune 500 companies and 197 industry leaders.
万姐坐在床边，轻轻地说：“以后别再做傻事了。你可以恨男人，但不要恨孩子。他是你身上的肉啊！”老公从青岛回来后，我开始安于自己新的身份——母亲。而我也是从那时才发现，万姐特别喜欢做衣服，而且都是小孩儿的衣裤。
At the summit, the attendees committed to an open world economy. Former ROK Prime Minister Han Seung-soo called for the maintenance of the multilateral economic system and the pursuit of common development and prosperity.
普洱市地处低纬度、高海拔地区，茶树具有萌发较早、采摘期长、芽叶肥壮等特点。普洱市旅游环线内森林覆盖率达94.5%，内有植物2014种，其中有药用植物野砂仁，花卉植物山海棠、兰花等，被称为“天然花园”。温度较为适宜，降雨量充沛，这使得普洱拥有怡人的康乐气候。旅游环线内水体资源，融“山、林、水、人”四大主题为一体，呈现出不同的水体形态。由于区内热量丰富，气候湿润，森林茂密，食物丰富，为野生动物的生息繁衍提供了十分优越的环境条件。普洱市拥有35个少数民族，不同民族，以茶待客、以茶联姻等，把茶文化发挥得淋漓尽致，成为一种文化标杆。
“Only through global cooperation can we solve the problems and risks brought about by global challenges,” Musissa Kituyi, Secretary General of the UN Conference on Trade and Development, said in his congratulatory letter.
她年纪已经大了，体态的苍老显而易见，每当黄昏时刻拖动着那肥胖的身躯去楼道散步的时候，她就觉得自己的体力已远远不如从前，活蹦乱跳已不能了。
(Reporting from Qingdao, Shandong Province )
Copyedited by Sudeshna Sarkar
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