Technology leaders' visits vote of confidence in China
The frequent visits of global technology leaders to China reflect the unpopularity of the United States' "decoupling" efforts. These efforts have not achieved the expected results. Instead, the US has harmed its own interests, undermined the international economic and trade order, and damaged the interests of companies worldwide.
From the perspective of the business environment, China is steadfastly advancing its reform and opening-up policy, while its massive consumer market is providing vast development opportunities for both domestic and foreign companies. According to a survey on China's business environment in the first quarter of 2023, conducted by the China Council for the Promotion of International Trade, 97 percent of foreign-funded enterprises expressed satisfaction with the foreign investment policies that have been introduced by the Chinese government since the fourth quarter of last year. Over 70 percent of the surveyed companies also said that they would maintain their current business layout in China or further localize their industry chains in China.
China has a mature, complete, and efficient industrial production system, and its manufacturing industry has been the world's largest for 13 consecutive years. China possesses the world's largest pool of scientific and technological human resources, with the number of engineers accounting for about one-fourth of the global total. The annual output of engineers in China is equivalent to the combined total of the United States, Europe, Japan, and India. China has a strong capacity for innovation-driven development, with the contribution rate of scientific and technological progress exceeding 60 percent. In 2022, China ranked first in the number of international patent applications filed under the Patent Cooperation Treaty, accounting for over one-fourth of the global total.
Whether it is in terms of the business environment, consumer market, or supportive policies, China is an irreplaceable and indispensable place for win-win cooperation for multinational technology companies.
China's development is inseparable from the world's, and the world's development is related to China's. A more open China will play a more significant role in the global economy. The frequent visits of the leaders of tech giants to China are evidently not impulsive actions by individuals but a vote of confidence and support from numerous multinational companies based on careful observation and investment practices in the Chinese economy. Mutual understanding, respect, and cooperation are expected to drive global technological innovation and promote the development of the world economy.
