China places significant emphasis on its economic and trade relations with Germany, its top trading partner in Europe for nearly half a century, said a senior Chinese government official.
During an "invest in China"-themed roundtable meeting held in Munich, Germany, on Saturday, Ling Ji, vice-minister of commerce and China's deputy international trade representative, said that trade between China and Germany accounts for one-third of the total trade between China, Europe and German investment in China accounts for one-third of the European Union's investment in China, according to an online statement released by the Ministry of Commerce.
The economic and trade relationship between China and Germany has formed a mutually beneficial situation. Investing in China has become a common need for the development of both Chinese and German enterprises and helps enhance the global competitiveness of German companies, said Ling during his meeting with senior executives of German companies including Siemens AG and BMW Group.
China hopes that German businesses will seize the opportunities presented by the development of China's digital economy and green transformation, and strengthen cooperation in fields such as electric vehicles, clean energy, biopharmaceuticals and artificial intelligence to promote greater development in Sino-German economic and trade relations, Ling added.
The leaders of German businesses said that China is one of the most important markets globally and plays a key role in the world's industrial and supply chains. German companies have grown in the context of economic globalization, adhere to free trade, welcome competition from emerging markets, and oppose protectionism and the "decoupling" from China.
From: ChinaDaily
BEIJING -- The good start of China's economy this year is a bright spot for the global economy. China is opening wider and wider to the world, and China's mega-market will bring enormous opportunities to the world, a Foreign Ministry spokesperson said on Wednesday.
The latest increase in China's manufacturing Purchasing Managers' Index (PMI) and non-manufacturing PMI attracted wide attention from international media. They see these figures as evidence that China's economy has found new drivers for growth.
In response to a related query, spokesperson Wang Wenbin said at a daily news briefing that China's manufacturing PMI, non-manufacturing PMI and composite PMI numbers for March have received wide international attention. The simultaneous rise of the three major indexes and the fact that they are all in the expansion zone are evidence that China's economy continues to enjoy a good momentum, its internal driving force is strengthening, public expectations are improving, and China's high-quality development is making solid progress.
In addition to PMI numbers, China's imports and exports, power generation, passenger and cargo volume, consumption during the Spring Festival all showed positive signs of economic rebound, which have heightened the world's expectation for the Chinese economy in 2024, he added.
"The good start of China's economy this year is a bright spot for the global economy," Wang said, adding that over 100 multinational business executives have recently gathered in China. The China Development Forum 2024 and the Boao Forum for Asia Annual Conference 2024 both had a full house of guests. Many of the business leaders present expressed full confidence in the resilience and outlook of China's economy. They believe the Chinese market remains irreplaceable for multinationals and said they will continue to invest in China.
Noting that China's development is open to the world, Wang said various Chinese departments have recently unveiled key steps to expand high-standard opening up, covering cross-border trade in services, cross-border data flows and opening up in the financial sector.
From the Canton Fair to the China International Import Expo, China International Fair for Trade in Services, the Global Digital Trade Expo, the China International Consumer Products Expo, and the China International Supply Chain Expo, China is opening wider and wider to the world, and China's mega-market will bring enormous opportunities to the world, he said.
"Our message to businesses around the world: invest in China, flourish in China and succeed in China," Wang said.
From: ChinaDaily
BEIJING -- The size of China's low-altitude economy exceeded 500 billion yuan ($69.15 billion) in 2023, up by 33.8 percent year-on-year, according to a report.
The report published on Monday by CCID consulting, a think tank under China's Ministry of Industry and Information Technology, has shown that the country's civilian drone sector expanded to nearly 120 billion yuan last year, while the industry of electric vertical take-off and landing (eVTOL) aircraft registered close to nearly 1 billion yuan.
The low-altitude vehicle manufacturing and low-altitude services made the largest contribution or nearly 55 percent to the strategic emerging industry, said the report.
The Civil Aviation Administration of China (CAAC) said last week that there were nearly 1.27 million registered unmanned aerial vehicles across the country at the end of last year, up 32.2 percent year-on-year, and civilian drones flew a total of 23.11 million hours in the country last year, an increase of 11.8 percent compared to 2022.
As of February this year, there are more than 57,000 enterprises in China's low-altitude economic sector, according to CCID consulting.
From: ChinaDaily
BEIJING -- Foreign businesses are riding on the wave of China's green transition, as the country's pursuit of low-carbon and sustainable development nurtures new opportunities.
China's unswerving commitment to the dual carbon goals of peaking carbon emissions by 2030 and achieving carbon neutrality by 2060 is catalyzing related sectors, such as new energy vehicles, the circular economy, green finance as well as the low-carbon transformation of traditional industries.
Danish technology and engineering conglomerate Danfoss aims to capitalize on the long-term opportunities emerging from China's green transition and industrial upgrading.
"Supported by China's massive domestic market, great consumption potential as well as its complete and resilient industrial chain, we believe the Chinese economy, especially its green economy, will unlock huge business opportunities," said Xu Yang, president of Danfoss China.
China has become Danfoss' second-largest regional market globally, and the company's business has a strong alignment with China's green agenda. This alignment is fueling the optimistic view of Danfoss' performance in the country, according to Xu.
Official data showed that China's green and low-carbon development will create a huge increase in economic growth and nurture a 10-trillion-yuan ($1.41 trillion) market for investment and consumption each year.
For Xu, the Chinese market's attraction for foreign businesses lies not only in its scale, but also in its speed, as it's a market with a faster pace of product iterations. "It's a challenge, but also an opportunity to sharpen our competitive edge globally by adapting to the rapid changes in the Chinese market," he said.
An inverter compressor product that Danfoss will unveil in the European market this year is developed based on innovations at the company's technology platform in China. "It indicates the Chinese market's core competitiveness is tilting from its complete supply chain toward innovation," he said.
The company will continue to increase its investment in China, looking to further strengthen its supply chain and innovation in China to better facilitate the green transition of sectors such as construction, transportation and industrial upgrading, Xu said.
Danfoss inaugurated its global refrigeration research and development and testing center in Tianjin in May 2023. With a total investment of about 140 million yuan, the center is the company's most advanced and largest facility worldwide.
Like Danfoss, many multinationals have shown a growing appetite for China's green and low-carbon development. A bright spot is the NEV sector, where global players are expanding their footprints.
David Fan, executive vice-president and China president of Marelli, a leading global automotive supplier, said the company remains upbeat about China's development prospects despite global economic uncertainties.
The green transformation represents a technological revolution, where international green technologies are reintegrated into China and merged with local innovations to create new collaborative models and market opportunities. "We see immense potential in the Chinese market, especially in the new energy and intelligent vehicle sectors," Fan said.
Focusing on areas such as automotive lighting, electronic systems, propulsion solutions and green technology solutions, Fan said Marelli has established partnerships with China's leading auto companies and plans to further increase its resource investment in the country.
Dr Holger Scherr, president and CEO of Beijing Foton Daimler Automotive Co Ltd and head of the Mercedes-Benz business unit, said the substantial market capacity, demand for high-end heavy-duty truck products, and technological innovation will provide the company with enduring market opportunities.
"We are here for the long run," he said, adding that the company will get prepared with further investment into aspects needed to be competitive not only today, but also in the future.
This year, the Mercedes-Benz truck plant has obtained the plant permit for NEV products, "laying foundation for us to seize further opportunities of technology innovation," he said.
From: ChinaDaily
China on Tuesday unveiled rules on fair competition review in the fields of tendering and bidding process, marking the country’s latest step to further optimize the business environment and promote the construction of a unified national market.
Jointly released by the National Development and Reform Commission and other seven central departments, the document requires that within the realm of bidding and tendering, policies and measures must undergo fair competition review before implementation, and any policy measures hindering fair competition are strictly prohibited.
The rules will take effect from May 1st, 2024, according to the document.
NDRC said the rules came as currently, certain bidding and tendering policies still harbor elements such as implicit local protectionism, hindering fair participation among operating entities.
The commission said the rules aim to improve the mechanisms for fair competition review in bidding and tendering and standardize the policy formulation in that field.
The document outlines review requirements and focuses on breaking down transactional barriers across various aspects, including prequalification, evaluation methods, evaluation criteria and bidding criteria.
The document clarifies the main responsibilities of policy-making agencies in conducting fair competition reviews and makes provisions on work mechanisms, work processes, and review conclusions. It emphasizes that policy measures should undergo fair competition review before being submitted for review or approval.
It also requires relevant departments to regularly conduct evaluations and cleanups of policy measures, establish mechanisms for collecting clues about bidding and tendering market barriers, dynamically clean up and abolish various policy measures that violate fair competition, and effectively promote the implementation of the fair competition review system.
From: ChinaDaily
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