Foreign-invested enterprises are deepening their integration with China's local innovation chain, industrial and supply chains, and rich application scenarios. Many are not only building global innovation hubs in China but also feeding innovations born in the Chinese market back to the world.
The latest report of the European Union Chamber of Commerce in China shows nearly one-third of surveyed European companies are deepening localization, relying on local supply chains to improve efficiency, resilience and global competitiveness. Chamber President Jens Eskelund said China remains strongly competitive in global value chains, and its unique advantages in supply chain efficiency and innovation resource integration are hard to replicate.
After launching its smart logistics and assembly center in the Greater Bay Area last year, Finland's KONE Elevator opened its South China headquarters this year, leveraging the bay area's efficient supply chain and digital ecosystem to respond faster to growth in the Chinese market. KONE Executive Vice President and Greater China President Pakkafeng said China is KONE's largest single market, and solutions developed with Chinese innovation, digitalization and sustainability can be embedded in products and exported to more than 130 countries.
Ministry of Commerce data show China now hosts more than 560,000 existing foreign-invested enterprises with nearly $4 trillion in stock foreign investment, the second largest in the world. Wu Di, deputy head of the ministry's foreign investment department, said China will deepen opening pilots in telecoms, healthcare and other fields, implement the tax credit policy for foreign investors reinvesting distributed profits, and encourage more foreign investment in emerging and future industries, supporting foreign enterprises in technological innovation, upgrading and digital-green transformation.
