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China manufacturing

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Jin Zhuanglong, minister of industry and information technology, speaks during a
symposium on Monday at the China Development Forum. Photo: AFP
EconomyEconomic Indicators


AT CHINA DEVELOPMENT FORUM, FOREIGN FIRMS KEEP CALLING FOR ACTION AS BEIJING
MAKES MORE PROMISES

 * Come to China and set up R&D centres, minister of industry and information
   technology tells multinationals
 * Beijing is trying to revive confidence in the Chinese economy as inbound
   investment slows amid geopolitical tensions


China manufacturing

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Orange WangandBen Jiangin Beijing
Published: 10:00pm, 25 Mar 2024
Why you can trust SCMP


Listen to this article

Against the backdrop of manufacturing overcapacity concerns, Beijing is
reiterating that it wants foreign multinationals to come to China and set up
research and development centres, and to partner up with domestic firms to
manifest ideas and bring them to the market.

The pro-business rhetoric at the two-day China Development Forum that kicked off
in Beijing on Sunday included fresh vows to remove barriers for foreign firms,
but some foreign corporate leaders used the opportunity to voice long-held
concerns and call for more substantial changes in the business environment.

And while multinationals continued to renew their commitment to capitalising on
China’s 1.4-billion-strong consumer market, their gripes highlighted the gulf
that persists between Beijing and global investors.

> We will provide service and safeguards for worldwide scientists, entrepreneurs
> and investors who come to China to innovate and start businesses

Jin Zhuanglong, minister of industry and information technology


“We encourage foreign firm’s [Chinese] R&D centres to undertake major research
projects,” Jin Zhuanglong, China’s minister of industry and information
technology, said during the forum symposium on Monday.


READ FULL ARTICLEApp

“We will provide service and safeguards for worldwide scientists, entrepreneurs
and investors who come to China to innovate and start businesses.”



The China Development Forum, which began in 2000, is typically one of the few
venues where foreign business leaders may have a chance to interact with
high-ranking Chinese officials after their annual “two sessions” parliamentary
gathering where economic goals are laid out.

Beijing is looking to revive confidence in the Chinese economy at home and
abroad as inbound investment slows amid geopolitical tensions.

During the opening session on Sunday, Premier Li Qiang said China would
introduce more rules to bring down some of the barriers faced by foreign
companies, including to market access, public tendering and cross-border data
flows.




And on Monday, Jin tried to burnish the Chinese market, lauding the local
entrepreneurial and innovative drive, coupled with massive market demand,
abundant business opportunities, and comprehensive industry support – all of
which he said were favourable to multinational companies’ development.

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Still, his message on R&D centres came after a number of high-profile departures
and scaling down at such facilities in recent years, due to various factors that
have included the citing of geopolitical risks.


Hulu, the streaming platform backed by US entertainment giant Disney, cut around
90 per cent of its staff at its Beijing-based R&D centre last year. In 2021, IBM
closed its China Research Lab while Swedish telecoms giant Ericsson shut down
one of its five research centres in China.

After Jin’s speech, Ola Kallenius, chairman of Mercedes-Benz Group, said at the
same symposium that remaining open to different technological concepts and
approaches – especially in rapidly evolving technologies such as autonomous
driving – would help strengthen China’s position as an innovation hub.

He called on China, which is now the world’s largest automobile exporter, to
create “harmonised international standards and regulations” to provide mutual
benefits and ensure free trade.




In October, the European Union launched an anti-subsidy investigation into
Chinese electric vehicles amid concerns over the growing number of relatively
cheap China-made cars crowding out domestic producers within the bloc. Beijing
has pushed back against the move, accusing it of being “selective” and
“protectionist”.

Meanwhile, Kallenius said, China’s energy-consumption regulations for
automobiles carried “a substantial risk” that entire vehicle segments would not
be granted market access any more.

“Therefore, we hope policymakers will consider a more balanced review of the
ongoing regulation process to ensure that diversified customer demands could
still be met with diversified products,” Kallenius said.

Still, he said he expects the Chinese market to continue to grow and play a
leading role in bringing innovations to the global auto industry.

12:53

‘Overtaking on a bend’: how China’s EV industry charged ahead to dominate the
global market

‘Overtaking on a bend’: how China’s EV industry charged ahead to dominate the
global market

In subsequent remarks, Stefan Hartung, chairman of German electronics maker
Bosch expressed confidence in China’s “promising” business landscape but also
called on Beijing to reinforce intellectual property protections and facilitate
deeper international exchanges.

“The modernisation of industrial systems highly relies on collaboration and
openness,” he said.

Florent Menegaux, chief executive officer of the Michelin Group, expanded on
that sentiment in his speech at the forum.

“We hope that the Chinese government will continue to take concrete actions to
effectively deploy the national treatment to foreign-invested companies in
China,” Menegaux said. “This would enable us to make further progress together
in industrial policy discussions … among many other important topics.”


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Orange Wang
Orange Wang covers the Chinese macroeconomy, and has many years of experience
with China's monetary and fiscal policy moves. He also covered global market and
financial news for a long time, with a particular focus on new technologies and
their influences on economic growth and society. Before joining the South China
Morning Post, Orange worked as a Shanghai Correspondent for ET Net, a Hong Kong
financial news agency.

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Ben Jiang
Ben is a Beijing-based technology reporter for the Post focusing on emerging
start-ups. He has previously covered Chinese tech for publications including
KrAsia and TechNode.



CHINA MANUFACTURING



CHINA ECONOMY

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CHINA TECHNOLOGY

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US-CHINA RELATIONS

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XI JINPING

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DIPLOMACY

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REGULATION

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CONSUMERS

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Read more
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interaction data, IP addresses, User-provided data, Users’ profiles, Device
identifiers, Device characteristics, Probabilistic identifiers, Precise location
data

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THE KANTAR GROUP LIMITED

Cookie duration: 914 (days).

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interaction data, IP addresses, Privacy choices, Device identifiers, Device
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NIELSEN MEDIA RESEARCH LTD.

Cookie duration: 120 (days).

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ORACLE ADVERTISING

Cookie duration: 180 (days).

Data collected and processed: Non-precise location data, Browsing and
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choices, Authentication-derived identifiers, Device identifiers, Device
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PIANO SOFTWARE INC.

Cookie duration: 365 (days).

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PLAYGROUND XYZ EMEA LTD

Cookie duration: 90 (days).

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MAGNITE, INC. (CARBON AI LIMITED)

Cookie duration: 89 (days).

Data collected and processed: Non-precise location data, Browsing and
interaction data, IP addresses, Privacy choices, Device identifiers, Device
characteristics, Probabilistic identifiers

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ADMIXER EU GMBH

Cookie duration: 90 (days).

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INTERCEPT INTERACTIVE INC. DBA UNDERTONE

Cookie duration: 366 (days).

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GOOGLE ADVERTISING PRODUCTS

Cookie duration: 396 (days).

Data collected and processed: Non-precise location data, Browsing and
interaction data, IP addresses, User-provided data, Users’ profiles, Privacy
choices, Authentication-derived identifiers, Device identifiers, Device
characteristics

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Uses other forms of storage.


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ORACLE DATA CLOUD - MOAT

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AMAZON ADVERTISING

Cookie duration: 396 (days).

Data collected and processed: Non-precise location data, Browsing and
interaction data, IP addresses, Users’ profiles, Privacy choices,
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LINKEDIN IRELAND UNLIMITED COMPANY

Cookie duration: 90 (days).

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interaction data, IP addresses, Privacy choices, Authentication-derived
identifiers, Device identifiers, Device characteristics

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Cookie duration resets each session. Uses other forms of storage.


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MINTEGRAL INTERNATIONAL LIMITED

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DIANOMI PLC

Cookie duration: 180 (days).

Data collected and processed: Non-precise location data, Browsing and
interaction data, IP addresses, User-provided data, Users’ profiles, Privacy
choices, Device identifiers, Device characteristics

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Cookie duration resets each session. Uses other forms of storage.


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KARGO GLOBAL INC.

Cookie duration: 365 (days).

Data collected and processed: Non-precise location data, Browsing and
interaction data, IP addresses, Device characteristics

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Cookie duration resets each session. Uses other forms of storage.


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LONGTAIL AD SOLUTIONS, INC DBA JW PLAYER

Doesn't use cookies.

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MICROSOFT ADVERTISING

Cookie duration: 396 (days).

Data collected and processed: Non-precise location data, Browsing and
interaction data, IP addresses, User-provided data, Users’ profiles, Privacy
choices, Authentication-derived identifiers, Device identifiers, Device
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GOOGLE, INC.

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META

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MAGNITE

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MOPUB (A DIVISION OF TWITTER, INC.)

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EMX DIGITAL

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