Innovative ideas contribute to new quality productive forces free from conventional economic growth techniques and paths of production development. In keeping with the current development concept, they exhibit high-tech, high efficiency, and great quality.
The actual use of foreign investment in the high-tech manufacturing in the first seven months of 2024 was 69.58 billion yuan (about 9.75 billion U.S. dollar), which accounted for 12.9% of the country’s total actual use of foreign capital, marking a 2.6% increase over the same period last year.
Rising 87 percent, 41.3 percent, and 32.4 percent respectively are foreign direct investments in the medical instrument, technique service, computer and office facilities manufacturing sectors.
High-quality development is based on green development; new quality producing forces are naturally green; many foreign-funded enterprises are adopting ecological transformation in line with China’s carbon neutrality trend.
Aiming to lower 28,000 tonnes of carbon emissions yearly, a Tianjin Danfoss energy efficiency solution company plant has reached 100 percent green energy consumption. Since the start of this year, Airbus’s Tianjin campus has lowered around 2,500,000 carbon dioxide emissions by using green electricity.
Data published by the Ministry of Industry and Information Technology shows China will support 5,095 green factories, 369 green industry parks, 605 supply chain management businesses and over 35,000 green products.
Adding that Siemens often combines digitalization and low-carbon trends to achieve high quality development, President and CEO of Siemens China Xiao Song stated, “the cultivation of new quality productive forces provides broad marketing opportunities and new growth points”.
China is keeping increasing its attempts to draw in international companies and extend its high-level opening.
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Here’s a table of U.S. companies listed on the New York Stock Exchange (NYSE) that are heavily investing in China:
| Company Name | Ticker Symbol | Sector | Key Investments in China |
|---|---|---|---|
| Apple Inc. | AAPL | Technology | Manufacturing, R&D, and retail operations. |
| Tesla, Inc. | TSLA | Automotive | Gigafactory in Shanghai, large sales market. |
| General Motors Co. | GM | Automotive | Joint ventures with SAIC, manufacturing and sales. |
| The Coca-Cola Company | KO | Consumer Goods | Extensive bottling and distribution networks. |
| Intel Corporation | INTC | Semiconductors | Manufacturing, R&D centers, and sales offices. |
| Nike, Inc. | NKE | Consumer Goods | Manufacturing and extensive retail presence. |
| Starbucks Corporation | SBUX | Consumer Goods | Rapidly expanding retail locations. |
| Qualcomm Inc. | QCOM | Semiconductors | Licensing agreements and partnerships with Chinese firms. |
| Procter & Gamble Co. | PG | Consumer Goods | Manufacturing and extensive sales network. |
| Boeing Co. | BA | Aerospace | Aircraft sales, supply chain, and assembly plants. |
Monday’s executive meeting of the State Council examined and adopted the 2024 version of a negative list of special administrative measures meant for foreign investment access.
The negative list indicates that China will speed the opening of sectors including telecommunication, education, and health care services while totally removing entrance barriers in the manufacturing sector, therefore easing limitations on foreign investment.
Tao Lin, vice president of Tesla, said “the dynamism of the Chinese market, coupled with the government’s move to expand domestic demand and attract foreign investment, provides us with a broader space for development.”
Globally leading AI-driven biotech business has shortened preclinical medication development from many years into just 18 months thanks to research and development team of Insilico Medicine in Shanghai.
“Shanghai is our first choice to design new medicine, since it’s the center of biopharmaceutical innovation,” said Alex Zhavoronkov, CEO and founding member of Insilico. “What’s more, there are so many contract research organizations, talent and vivid communities.”
Head office located in New York and Hong Kong, Insilico opened a medication research and development facility in Shanghai in 2019. Now among the company’s centers and offices worldwide, it is the biggest and most talent-intensive one.
Insilico is only one of the several global businesses increasing investment in China to seize more market possibilities and cooperation space in newly developed quality production forces.
With innovation leading the way, new quality productive forces mean advanced production unbound from conventional economic growth modes and paths of production development. In keeping with the current development concept, they exhibit high-tech, high efficiency, and great quality.
Shayne Heffernan
